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“They were in the forward-mortgage business, but where they really wanted to be is in the reverse-mortgage business,” said Steven Schwartz, an analyst at Raymond James & Associates Inc., who has an.
MetLife, Inc. (NYSE: MET) announced today that it is exiting the business of originating forward residential mortgages. MetLife Home Loans, the residential mortgage division of MetLife Bank, N.A., will no longer accept new loan applications for forward mortgages.
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MetLife completed its exit from the mortgage business today by agreeing to see its reverse mortgage servicing to NationStar. Press release below and some other usefulbelow that, including a piece I did when they exited all other mortgage operations.
"[The] reverse mortgage business has operating and capital 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 of Wells Fargo and Bank of America from the business.
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MetLife Leaves Reverse Mortgage Lending – The top reverse mortgage lender exits the reverse mortgage industry Watch the video for a look at the possible causes. In the wake of the aftershocks of the two largest reverse mortgage lenders leaving MetLife announced last Thursday they are leaving reverse mortgage lending.
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MetLife Inc., (NYSE:MET) the largest life insurance company in the U.S., announced its exit from the originating forward residential mortgages business. With this, the company will no longer. MetLife Inc., (NYSE:MET) the largest life insurance company in the U.S., announced its exit from the originating forward residential mortgages business.
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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.