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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The House passed housing legislation that includes a slightly pared-down institutional investor housing ban, as well as a raft of community bank measures.
7h ago -
Delinquencies among recent FHA originations are showing up alongside a notable volume of subordinate liens carried by the borrowers.
7h ago -
The share of sellers dropping their asking price fell in April as buyer demand picked up, though Sun Belt markets — especially in Texas — still saw widespread price cuts.
9h ago -
The real estate investment trust, while reporting a first quarter net loss, benefitted from growth and stable margins in its three mortgage production units.
10h ago -
The co-author of the landmark Dodd-Frank Act and progressive congressional trailblazer Rep. Barney Frank, D-Mass., has died.
10h ago -
The newest version of the House housing bill would make a ban on institutional investors owning some homes less harsh than the Senate version by removing a seven year mandate on selling build-to-rent homes.
May 19









