Mortgage Daily Logo

MetLife Expands Mortgage Staff

Mortgage News

Between the end of September and the end of December, MetLife Bank, N.A., expanded its mortgage staff by more than 500 people. The company also expanded its quarterly originations, though the same couldn’t be said for annual activity or for the servicing portfolio.

Residential loans originated from Oct. 1 to Dec. 31 totaled 25,234 mortgages for $6.548 billion, according to data provided by the company to Mortgage Daily.

The latest period was an improvement from the third quarter’s 20,326 loans closed for $5.088 billion. But it wasn’t much different than 29,249 loans funded for $6.621 billion in the fourth-quarter 2009.

In addition, MetLife closed 4,423 reverse mortgages for $0.558 billion during the fourth quarter. Reverse production was better than the 3,901 loans for $0.451 billion. But reverse volume was down from 5,112 reverse mortgages closed for $0.807 billion a year earlier.

Full-year production, including reverse mortgages, was $22.1 billion, sinking from $36.8 billion closed during 2009.

The company serviced 611,515 mortgages for $115.9 billion as of Dec. 31. The portfolio declined from 616,694 units for $117.2 billion at the end of September. The servicing portfolio stood at 564,276 loans for $103.4 billion at the end of 2009.

Of the Dec. 31, 2010, total, third-party servicing accounted for 151,911 loans for $28.5 billion.

MetLife’s mortgage operations employed 4,765 people as of the end of 2011, a big leap from 4,183 employees as of Sept. 30, 2011. Headcount was reported at 4,057 as of Dec. 31, 2009.

Related Posts

Centex Home Equity Announces Name and Brand Change to National Mortgage, LLC

Third-Quarter 2012 Mortgage Litigation Index

Lawsuits involving excessive fees, servicing fees and loan fees beyond state maximums. Defendant Plaintiff Court Amount Overview Case Title Case Number Date Filed Date of Activity Link to Story Fannie Mae and Freddie Mac Orangeburg County, Richland County, South...

Centex Home Equity Announces Name and Brand Change to National Mortgage, LLC

Net Branch Lawsuits

Litigation involving net branch operations. Defendant Plaintiff Court Amount Overview Case Title Case Number Date Filed Date of Activity Link to Story PHH Mortgage Corp. Mathews Supreme Court of Virginia na Court held that the term "branch office" includes not only...

Centex Home Equity Announces Name and Brand Change to National Mortgage, LLC

Whistleblower Lawsuits

Litigation related to loan servicing, including escrow issues, transfer of servicing and servicing borrowers in bankruptcy and foreclosure.   Defendant Plaintiff Court Amount Overview Case Title Case Number Date Filed Date of Activity Link to Story Bank of...

Popular posts

How Long Does It Take to Refinance a Mortgage
How Long Does It Take to Refinance a Mortgage

So, you’re interested in refinancing your mortgage. Maybe you want some extra capital to do that home project you’ve always dreamed of, interest rates are nearing record lows, or you want to start consolidating debt. Regardless of the motivation behind the refinance,...

How Does Refinancing a Mortgage Work
How Does Refinancing a Mortgage Work

A home purchase is considered an investment, and a robust one at that. Savvy owners are constantly looking for new ways to reduce debt, save money, pay less in interest, and ultimately build equity. Refinancing is one way to leverage your investment and do just that....

What Does It Mean to Refinance Your Home
What Does It Mean to Refinance Your Home

You can think of refinancing your mortgage as a debt redo. Essentially, you’ll swap out the existing loan for a new one - ideally with better terms and conditions. Only this time it could help you save money on high mortgage payments, rather than just borrow it....

Setting up the Utilities in My New House
Setting up the Utilities in My New House

All the tedious, time-consuming paperwork has been signed, sealed, and delivered. Your belongings are packed into what seems like a million boxes and you have a solid plan to haul all your existing furniture to the new place. Just as your boxes and furniture need to...

When Is My First Mortgage Payment Due?
When Is My First Mortgage Payment Due?

Navigating your way through a brand-new mortgage loan can be a difficult task, especially for first-time homeowners.   After handing over a large sum of money for the down payment and closing costs, it’s important to pay attention to the timing of your first...

Newsletter

Don’t worry, we don’t spam