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Wachovia Sells Mortgage Servicing Unit
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London's Barclays(BCS Quote) is paying just under $500 million for Wachovia's(WB Quote) mortgage servicing business.
The transaction, valued at $469 million, will enable Barclays to strengthen its U.S.-based mortgage securitization business.
Mortgage servicing is a business in which a bank earns fees collecting interest payments and handling other duties on home loans. ...
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