MetLife to sell $70 Billion mortgage servicing portfolio to JPMorgan

Posted on02 November 2012.

Reuters-

MetLife Inc, the largest U.S. life insurer, said it 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 percent, MetLife said in a statement.

[REUTERS]

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