The news that insurance company MetLife is giving up on mortgage banking is not something the industry likes to hear. What makes it so odd is that MetLife has only been in the business for three years and has no “legacy” issues to speak of. But perhaps other new entrants to the business will gain form its departure in terms of market share. Another concern, though, is MetLife’s warehouse business. From what we’re told the mortgage company is shifting the business over to its parent, MetLife Bank, which is also on the auction block. Hopefully, the bank will stay committed to warehousing. If not…
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