Mortgage Daily Logo
mortgage news from industry experts

MetLife Boosts Mortgage Force

MetLife Boosts Mortgage Force$10.6 billion Q2 originations

August 3, 2009

By staff

Mortgage employee headcount jumped as home loan originations edged higher at MetLife Home Loans. The company’s reverse mortgage originations exceeded 3,700 loans, while the reverse servicing portfolio exceeded 18,000 mortgages.

The Bridgewater, N.J.-based lender funded 45,893 mortgages for $10.6 billion during the second quarter, according to data provided to

MetLife reported first-quarter originations of $10.4 billion.

MetLife acquired 250 mortgage production offices from First Horizon National Corp. in September 2008. Originations during the second-quarter 2008 at just those branches were 31,597 loans for $6.6 billion, while home loan production at all of First Horizon during that period was $6.8 billion.

The servicing portfolio was 540,650 loans for $97.8 billion on June 30, climbing from 524,149 mortgages for $93.2 billion as of March 31. The latest holdings included 308,616 portfolio loans for $53.3 billion and 232,034 subserviced loans for $44.6 billion.

On the reverse mortgage side, second-quarter originations were 3,774 loans for $0.7 billion. Reverse Market Insight reported that MetLife endorsed 2,307 reverse mortgages during the first quarter.

The reverse mortgage servicing portfolio was 18,465 units for $2.7 billion at the end of June.

MetLife employed 3,811 mortgage employees as of June 30, soaring from 2,956 as of March 31.

Parent MetLife Inc. reported a $1.4 billion second-quarter loss, worse than the $0.6 billion first-quarter loss.

MetLife profile

next story

back to current headlines


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...


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

Related Posts