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MetLife exits forward mortgage business

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But it found no buyer for the mortgage business. MetLife said it expects the closing to cost between $90 million and $110 million after taxes. It does not expect the closing to impact its earnings.

. a regulatory filing last Wednesday that it had begun exploring the sale of MetLife Bank’s forward mortgage servicing assets and operation, and was reporting the business as divested. The Federal.

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.

Jan. 10, 2012- 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. MetLife Home Loans continues to originate reverse mortgages.

METLIFE EXITS FORWARD MORTGAGE BUSINESS NEW YORK, January 10, 2012 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.

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.

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.

MetLife’s decision to exit reverse mortgages came six months after the company said it was exploring the sale of. In January, it also said it would no longer originate forward residential mortgages.

In case you missed it. Here’s what happened in reverse mortgage news this week. indicated that there are no planned premium increases for HECM loans, although forward FHA loans will face some.

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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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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