Norwest Mortgage this month became the first lender to eclipse the $200 billion mark in servicing-and it appears several other bank subsidiaries may soon approach that level.

Just a few years ago, many observers thought a $100 billion portfolio would be impossible to manage. Servicing mortgages involves many things- collecting monthly payments, handling customer service calls, and overseeing default management functions. But it generates fee income for mortgage companies and provides an opportunity to cross-sell financial products.

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