It’s been almost nine months since insurance conglomerate MetLife pulled the plug on its mortgage banking operation with the company offering little in the way of insight about its residential servicing portfolio.
According to investment bankers tracking the deal, MetLife, since January, has held conversations with targeted investors about the $80 billion in MSRs, but with no progress toward a resolution.
One bidder said he believes that the insurer will now keep the receivables because the bids have been unacceptable.
On Tuesday a spokesman for MetLife offered this: “MetLife continues to service its existing book of mortgage business. Nothing further to comment on.”
At midyear
MetLife began closing its production offices in March with many of its top producers landing elsewhere.
