It really smarts to give up thousands of customers your bank would rather keep.

But Mark Mason, the CEO of HomeStreet (HMST) in Seattle, takes some consolation in the fact that SunTrust Banks (STI), based more than 2,000 miles away, bought the servicing rights on $3 billion of mortgages from his bank. As opposed to, say, a nonbank that might treat the borrowers poorly.

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