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Metlife Inc To Sell Mortgage Servicing Portfolio To JPMorgan Chase & Co.-Reuters

Friday, 2 Nov 2012 05:57pm EDT 

Reuters reported that Metlife Inc will sell MetLife Bank's mortgage servicing portfolio to a unit of JPMorgan Chase & Co. for an undisclosed amount, as it looks to exit its bank holding structure. The $70 billion servicing portfolio will increase JPMorganChase Bank's $1.1 trillion servicing business by more than 5%. MetLife said in a regulatory filing last Wednesday that it had begun exploring the sale of MetLife Bank's forward mortgage servicing assets and operation, and was reporting the business as divested. 

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