MetLife says exits forward mortgage business. By IBT Staff Reporter 01/10/12 AT 6:48 PM. MetLife will shut down its mortgage operations, the largest U.S. life insurer said on Tuesday, giving up on.
MetLife Inc. said Thursday it is getting out of the reverse mortgage business as part of its exit from retail banking, which it says accounted for only a small fraction of its profits. MetLife posts 1Q loss, exiting reverse mortgages
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. characteristics that are different from the forward mortgage business,” he said. MetLife is the No. 1 provider of reverse mortgages in the U.S., now occupying the top position following the exits.
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BOSTON (Reuters) – MetLife will shut down its mortgage operations, the largest U.S. life insurer said on Tuesday, giving up on the unit three months after it said it would seek a buyer. MetLife has.
MetLife Inc, the largest U.S. life insurer and reverse mortgage lender, made a surprise shift on Thursday with the sale its reverse mortgage business as part of its exit from banking-related.
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MetLife, Inc. (NYSE: MET) announced today that it is exiting the reverse mortgage business. Nationstar Mortgage LLC will purchase MetLife Bank’s reverse mortgage servicing portfolio. The transaction is subject to certain regulatory approvals and other customary closing conditions. MetLife Bank will no longer accept new reverse mortgage loan applications and registrations.
Metlife Exits Forward Mortgage Business – Sec – MetLife Home Loans will continue to service its current mortgage customers. In addition, MetLife Home Loans will honor all contractual commitments for loans in process and expects the majority of loans to close in 90 days.