After months of pursuing a sale of its mortgage division, MetLife announced today that it would instead wind down its operations. Rumors of potential suitors have been widely reported over the last few weeks. In the end, none ever materialized. As of 5 pm today, the company has stopped accepting new mortgage loan applications. Their press release stated that they would continue to originate reverse mortgages.
Their announcement states that "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."
MetLife entered the forward mortgage business in 2008 with the purchase of First Tennessee Bank's First Horizon Home Loan division. The company announced in December that GE Capital Finance would acquire most of its banking business. Fortunately for their employees, many have had time to pursue other employment opportunities.
 |
|
|
Mortgage Planning Specialist, 203K Renovation Loans, REO Specialist, Fannie Mae HomePath, FHA, VA,USDA, Grant Programs - GA Dream, HUD REO, 2nd Homes, Investment Properties, Condos, FHA DELRAP Condo
Atlanta HAFA Agent Short Sale Training - July 19, 2011
HAFA Short Sale Approval Criteria
Eligible Property Types for HomePath® Renovation Mortgages
HomePath Renovation Financing For Alabama Fannie Mae REO's
HomePath Renovation Financing For GA Fannie Mae REO's
Can I Use an FHA 203K Streamline for a Health or Safety Issue?
Prospect Mortgage - #2 Volume FHA 203K Renovation Lender for 2010
Free Yogurt on March 3rd - Pinkberry Buckhead
Why Do Some Loan Officers Give Out Estimates With Incorrect Fees?
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2012 ActiveRain Corp. All Rights Reserved
