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Bank Picks Up MetLife's Northwest Production Ops

Two recent rounds of regional recruits by other lenders

Feb. 7, 2012

By MortgageDaily.com staff


A Seattle bank has picked up a majority of the production personnel employed in the Northwest by MetLife Home Loans.

The planned shutdown of the MetLife Inc. subsidiary was disclosed last month. Mortgage staffing at MetLife stood at 5,507 as of Sept. 30, 2011.

Among the confirmed layoffs are 804 Irving, Texas, jobs that will commence on March 30 and complete by May 31, according to a Workers Adjustment Retraining and Notification Act filing made by MetLife. "A few additional" Irving layoffs could happen later in the year.

MetLife spokesman John Calagna recently explained that while a maximum 4,300 layoffs could occur, some of those employees will end up in other MetLife jobs while others will leave to work at other companies.

Among the departing employees are more than 160 people in the Northwest recruited by Seattle-based HomeStreet Bank

An announcement Tuesday indicated that HomeStreet hired "a substantial majority" of mortgage production staffers employed by MetLife in Idaho, Oregon and Washington.

The MetLife recruits include Pacific Northwest Regional Sales Leader Rose Marie David and former MetLife Home Loans Regional Builder Division Manager Anthony Grasst.

"The bank is also bringing on board a significant number of mortgage loan processing personnel from MetLife," according to the statement. "This group, which will join HomeStreet over the next several weeks, will become part of the bank's existing regional forward mortgage origination operations."

A nearby MetLife group has also found a new home.

Earlier this month, Provident Financial Holdings hired a group of 40 people from MetLife's Northern California operations. The group included 26 retail loan production employees and 14 support staff.

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