MetLife Sells Reverse Mortgage Business To Nationstar

Law360, New York (April 26, 2012, 6:24 PM EDT) -- MetLife Inc. will sell its reverse mortgage servicing business to Nationstar Mortgage Holdings Inc., it said Thursday, in its latest effort to step out of the banking business and focus its resources on insurance and employee benefits.

The company has stopped accepting new reverse mortgage loan applications and registrations, according to a statement released Thursday.

“Given MetLife's strategic focus as a global insurance and employee benefits leader, the company decided in 2011 that a bank holding company structure was no longer appropriate,” the company said. “Since...
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