A former Metlife mortgage agent edited this Reuters story for your reading pleasure.
MetLife
It's official: MetLife cuts very last mortgage operation loose. They're out of lending.
Last October's announcement is now official. What now?
MetLife’s mortgage division is up for sale and PNC seems to be one of the potential purchasers. There are even marketing pieces about it. Many banks and mortgage companies are searching for merger or acquisition candidates. But what is the best branding strategy in a merger? In any merger, there are 5 choices on what
MetLife’s mortgage division is up for sale and PNC seems to be one of the potential purchasers. There are even marketing pieces about it. Many banks and mortgage companies are searching for merger or acquisition candidates. But what is the best branding strategy in a merger? In any merger, there are 5 choices on what
Last week MetLife said they’re exiting the mortgage business. It’s big news in the retail loan origination world, so I thought I’d share how it impacts me as a mortgage banker and offer some advice to MetLife loan agents. This move is a bit surprising since MetLife didn’t make a major push in residential mortgages
Here on the front lines, the biggest mortgage industry news this week was MetLife looking to sell their mortgage division (press release, links below). I’m friends with MetLife agents who sought stability there after too many years of chaos. And now they’re all reexamining their fate once again. I’ll comment further this weekend, but tonight
One of the questions that folks in the mortgage conference hallways were asking was, “With BofA leaving correspondent, is someone like Chase going to be next?” There is a big difference between hallway chatter and Bloomberg headlines like “MetLife May Sell Mortgage Business.” Here’s the gist: Chief Executive Officer Steven Kandarian, who took the job
One of the questions that folks in the mortgage conference hallways were asking was, “With BofA leaving correspondent, is someone like Chase going to be next?” There is a big difference between hallway chatter and Bloomberg headlines like “MetLife May Sell Mortgage Business.” Here’s the gist: Chief Executive Officer Steven Kandarian, who took the job
New Bank Definition I thought I knew what a bank was, until those clever folks at the internet gave me something else to contemplate. Groundhog Day Predictions Worse Than Coin Toss Happy Groundhog Day. Few offices outside of Punxsutawney, PA use this as a holiday, whereby since 1887 if the groundhog (Punxsutawney Phil) sees his
Housing Markets After Government Help Ends There is no one that will disagree with the statement that the mortgage markets benefited from government intervention last year. And practically everyone believes that, given the significant challenges housing is facing, the government will stay focused and do whatever it takes to support the market. For this reason,
Later today, results of the government conducted stress tests on the nation’s 19 largest are likely to reveal that some of these banks will need about $65 billion in additional capital, maybe more. Banks who need to raise money to cover potential losses in the coming two years are as follows: Bank of America Bank
Treasury and the Fed are finalizing debates with US banks over stress tests that will reveal their capital adequacy when results are announced Thursday, May 7. Up to 14 of the 19 largest US banks—including Goldman, GMAC, MetLife, Fifth Third, and Regions—may need to raise common equity in the event the recession worsens. This according
The other day I was complaining to a friend about the fact that her dog had two beds whilst my dog had none. (After all, for millions of years dogs survived without beds, right?) She answered that she had heard that, under a plan being considered by the Administration, any dogs that lied about their
MORTGAGE INDUSTRY ROUNDUP For any loan agents who admit, “I didn’t realize that verified employment wasn’t the same as verified income”, please contact an underwriter. I am waiting for someone to ask something like, “Can I get a stated income second behind my reverse mortgage, and use the income from my reverse mortgage for what