|
|
| MetLife Home Loans has emerged as a top-10 residential originator. Quarterly production doubled and its servicing portfolio is nearing $100 billion.Residential loan originations were $10.4 billion during the fourth quarter, according to data provided to MortgageDaily.com by the lender. Volume more than doubled from $4.5 billion in the fourth quarter.
Based on an analysis of first-quarter earnings data by MortgageDaily.com, MetLife ranked as the eight biggest U.S. originator. No data is available for the first-quarter 2008 because MetLife only acquired its origination platform in September 2008 from First Horizon National Corp. But first-quarter 2008 volume at First Horizon was $7.5 billion. MetLife said it serviced 524,149 mortgages for $93.2 billion as of March 31. The servicing portfolio stood at 506,601 loans as of Dec. 31, 2008. Included in the March 31 servicing portfolio were 277,197 loans for $45.5 billion that were owned by the company, and 246,952 loans for $47.7 billion serviced for others. The company owned $35.9 billion in commercial mortgages at the end of March, edging down from $36.0 billion three months earlier, holding company MetLife Inc. reported. MetLife Inc. said it had an $0.6 billion first-quarter loss, deteriorating from a $1.0 billion profit in the fourth quarter and an $0.6 billion profit a year earlier. MetLife reported 2,956 mortgage employees as of March 31. Headcount exceeded the 2,794 reported for parent MetLife Bank, N.A. as of Dec. 31, 2008. |
|
