PNC Eyeing Parts of MetLife Mortgage?

PNC Financial Services is taking a look at parts of MetLife Mortgage, according to industry advisors familiar with the situation.

Late last week officials from both institutions declined to comment.

In early October, MetLife Inc., the insurance company parent of the mortgage company, said it was throwing in the towel on residential finance and would entertain offers for the unit.

The insurer entered the business more than three years ago, buying at the bottom of the market and growing MetLife Mortgage into the nation’s 12th largest originator.

Among servicers, it ranks 10th with $108 billion in housing receivables, according to figures compiled by National Mortgage News and the Quarterly Data Report.

Back in July PNC hired E. Todd Chamberlain as a senior executive in the mortgage group. He left a position at Regions Financial to join the company. PNC and Regions have been engaged in merger talks as well.

Daily Briefing | Monday, December 5, 2011

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Article source: http://www.nationalmortgagenews.com/dailybriefing/2010_489/pnc-metlife-mortgage-1027718-1.html

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