Mortgage Daily Logo

MetLife Servicing Portfolio Grows but Fundings Sink

Mortgage News

As the servicing portfolio grew at MetLife Home Loans and earnings increased at its parent, residential originations have fallen more than 40 percent in the past three months and by more than half during the prior 12.

First-quarter originations were 20,008 mortgages for $4.4 billion, the company reported to MortgageDaily.com. Volume sank from 34,361 loans closed for $7.4 billion in the fourth quarter and $10.4 billion in volume a year earlier.

First-quarter activity included 17,189 residential loans for $4.0 billion, tumbling from 29,249 loans for $6.6 billion three months earlier.

In addition, 2,819 reverse mortgages were originated for $0.4 billion, also tumbling from the prior month — when 5,112 reverse mortgages for $0.8 billion were closed.

MetLife’s residential servicing portfolio finished March at 598,446 loans for $109.2 billion. The company’s portfolio finished last year at 564,276 loans for $103.4 billion.

In its report of first-quarter earnings, MetLife said it owned $48.4 billion in mortgages for investment, higher than $48.2 billion three months prior but off from $49.1 billion 12 months prior. The March 31 figure included $34.7 billion in commercial mortgages, $1.5 billion in residential and consumer loans and $2.0 billion in loans held-for-sale.

First-quarter income at MetLife Inc. was $835 million, according to first-quarter earnings data. The company had a $320 profit in the fourth quarter and a $544 million loss in the first quarter of last year.

MetLife employed 3,975 people in mortgage positions as of March 31, a decline from 4,057 people in the mortgage operation as of Dec. 31. But mortgage headcount was substantially higher than 2,956 mortgage employees as of March 31, 2009.

Related Posts

NewDay USA CEO Rob Posner Expects 10% Increase in 2019 Mortgage Loan Volume

There is No Such Thing as a Free House …

Over the past several years, those who service loans in the State of Washington(1) have seen a dramatic rise in the number of lawsuits in which delinquent borrowers seek to quiet title to their homes on the grounds that lenders are barred from foreclosing based on...

NewDay USA CEO Rob Posner Expects 10% Increase in 2019 Mortgage Loan Volume

Mortgage Servicer Portfolios

servicing news | mortgages outstanding statistics | foreclosure news   Servicing Portfolios as of 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 Residential Servicing Portfolios by Servicer Last Updated December 14, 2018...

NewDay USA CEO Rob Posner Expects 10% Increase in 2019 Mortgage Loan Volume

Fannie Mae Profile

Last Updated December 27, 2018 7:38 PM Central   full list | other directories | bank search | SEC filings | execs | m&a | production   Government Takes Over Fannie, Freddie Sept. 8, 2008 The government has seized control of Fannie Mae and Freddie Mac. The move --...

NewDay USA CEO Rob Posner Expects 10% Increase in 2019 Mortgage Loan Volume

Freddie Mac Profile

Government Takes Over Fannie, Freddie Sept. 8, 2008 The government has seized control of Fannie Mae and Freddie Mac. The move -- which is likely to push mortgage rates lower and provide a sense of stability for the more than 10,000 employees at both companies -- is a...

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 home closing documents have 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...

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 mortgage...

Newsletter

Don’t worry, we don’t spam

calculate your monthly mortgage payment

Related Topics

Helpful Links

Daily mortgage rate trends

Best mortgage lenders

First-time homebuyers programs by state

Loan limits by state

Types of mortgages

APR vs interest rate

Understanding PMI