WMC Mortgage Co. has sold off the majority of its conventional servicing portfolio, confirming that the former Weyerhaeuser Mortgage Co. intends to focus on the more lucrative subprime originations market.

First Nationwide Mortgage Corp. chief executive Walter C. Klein Jr. said his company bought about $3.3 billion in servicing from WMC at the end of last month. WMC had about $4 billion in servicing before this sale.

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