Volume 5 - Number 2
January 20, 2012
MetLife Quits FHA Lending, Remains an FHA Servicer
MetLife Home Loans (MHL), one of the top FHA-approved mortgage lenders and FHA servicers, has quit the loan origination business and stopped accepting new applications for forward mortgages. A residential mortgage arm of MetLife Bank, MHL said it is shutting down its various residential and construction loan programs and continuing its reverse mortgage program. The home loan division will honor all contractual commitments for loans in process and expects the majority of loans to close in 90 days. MHL began originating traditional, jumbo and reverse mortgages in 2008. However, dwindling revenues prompted ...
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