The mortgage division of MetLife has been going great guns in residential finance for two years now. Not only is the bank/insurance company the 12th largest residential funder in the U.S., it has a strong presence in correspondent, warehouse finance, and reverses. So why is the parent company now peddling the mortgage division? From what we're told, profits aren't as high as it would like. But the bank's official reason is this: “Today's uncertain marketplace and regulatory environment require a tremendous amount of resources – both in terms of people and capital – to effectively compete in and profitably grow the forward mortgage business.” (See the National Mortgage News website for more information.
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