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MetLife exits forward mortgage business

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With a reverse mortgage loan, unlike a traditional forward mortgage loan, the borrower does not make ongoing cash payments of principal or interest. Rather, with a reverse mortgage loan, payment of.

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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appropriately staffed with qualified auditors to execute on our planned mortgage servicing audits in 2012 and those underway in 2011. With MetLife’s announcement to sell its bank deposit business, as well as the sale of the forward mortgage business, staffing requirements will be re-evaluated based on the outcome of a sale.

 · MetLife (MET) is the largest life insurer in the U.S., and joins competitors AIG (AIG), Hartford Financial Services Group (HIG) and Allstate Corporation in selling off banking operations to.

MetLife Investment Management, the institutional asset management platform for MetLife, and State Street Corporation, have announced a multi-year agreement in which MetLife Investment Management and its affiliates will originate and service for State Street affiliates up to.

GMAC Loses $5bn on Mounting Mortgage Woes Housing Wire – "GMAC Loses $5bn on Mounting Mortage Woes" (2-4-10) "GMAC financial services (gom: 19.8199 -0.85%) posted an expected Q409 net loss of $5bn, as losses related to legacy assets in the company’s mortgage operations continue to mount. The Q409 loss compares to net income of $7.5bn in Q409 and net loss of $747m in Q309.

MetLife Inc.’s bank will lay off 4,300 employees as it exits the business of originating traditional, or forward, residential mortgages, with MetLife expecting to incur $90 million to $110 million.

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MetLife Bank’s Reverse Servicing Portfolio to be Purchased by Nationstar mortgage llc apr. 26, 2012- 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.

Nationstar Mortgage [stock NSM][/stock] is purchasing MetLife Bank’s [stock MET][/stock] reverse mortgage servicing portfolio. MetLife is now exiting the mortgage business and is no longer.

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