Major Mortgage Lender Calls It Quits – MetLife

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While the Federal Reserve and other government agencies urge banks to lower credit standards and increase lending, one major mortgage lender is calling it quits due to onerous regulatory burdens that increase lending risks and reduce profits.

MetLife, the country’s largest insurance company, is closing its $20 billion mortgage operations and firing 4,300 employees.  The mortgage division was closed after MetLife was unable to find a buyer for the business, according to Bloomberg.

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