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home loans: MetLife Ceases Mortgage Operations
- 01/10/12 02:22 PM
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 … (6 comments)
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