Loan Think

MetLife Fires 4,300 Then Buys a Luxury Apartment Building

Oh the indignity of it all: On Tuesday afternoon insurance giant MetLife -- the folks who market their business using Snoopy, Linus and Charlie Brown -- told 4,300 mortgage workers to take a hike. Then, the very next morning it publishes a statement saying another unit of the company bought a luxury rental apartment building in Chicago's North River neighborhood. In other words: rentals are a safe bet, mortgage banking, not so much. (Maybe MetLife Home Loans' laid off workers can move into a rental once they lose their homes. It has 29 stories and 249 units.) As for MetLife's warehouse lending division, we're told 'mum's the word' but see the National Mortgage News website later today for an update on that (very fluid) situation…

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