MetLife Bank posted strong operating earnings in the fourth quarter and full year, citing stellar results in its residential lending and servicing division. The bank, the nation's 11th largest funder of residential mortgages, had operating earnings of $65 million in the fourth quarter, a 400% increase from the same period a year earlier. For the full year, the Bridgewater, N.J.-based depository earned (on an operating basis) $298 million. In 2008 the unit had profits of $44 million. As reported by National Mortgage News recently, MetLife's mortgage division is exploring entering the warehouse and correspondent sectors.
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