Executives at Swiss bank UBS said on Wednesday that they’ve struck a deal to sell Credit Suisse’s U.S. servicing business. They did not provide information related to the buyers’ names or the financial details. 

In the U.S., Credit Suisse owns Select Portfolio Servicing (SPS). According to Inside Mortgage Finance (IMF), SPS was the 20th-largest U.S. primary mortgage servicer at the end of June, handling $166.7 billion in unpaid principal balance (UPB). Meanwhile, the company’s owned servicing portfolio was $45 billion as of second-quarter 2024, good for No. 36 in the IMF ranking.

On Wednesday, UBS chief financial officer Todd Tuckner told analysts details ⇒

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