NAB 0.51% $31.48 national australia bank limited

NAB Boosts Value of HomeSide Loan Rights to $3.16

  1. 96 Posts.
    The book value of rights to service HomeSide's home loans jumped to $3.16 billion at March 31 from $2.62 billion in September, according to a Securities & Exchange Commission filing. National Australia stock rose 0.5 percent to A$35.68, just shy of a record A$35.85 on Feb. 28.

    Australia's biggest bank wants to sell the rights to manage HomeSide's $171.3 billion of mortgages. NAB Chief Executive Frank Cicutto said May 9 the bank is ``open to offers'' for the servicing rights and there have been ``early signs of interest.''
    MSRs, are more valuable when rates rise, because customers are deterred from refinancing elsewhere.

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