Florida Mortgage News
Florida Mortgage news is updated daily.
The planned shutdown of the MetLife Inc. subsidiary was disclosed last month. Mortgage staffing at MetLife stood at 5,507 as of Sept. 30, 2011.
A MetLife spokesman recently explained that while a maximum 4,300 layoffs could occur, some of those employees will end up in other MetLife jobs while others will leave to work at other companies.
Non-bank residential lenders will now be required to file suspicious activity reports under new regulations finalized Tuesday.
SARs reports help identify straw buyers, fraudulent flips and short-sale fraud.
Wells Fargo Bank, N.A., exited the reverse lending arena with a bang.
The company, which last June said it would stop originating home-equity conversion mortgages, saw 15,673 retail and wholesale HECMs endorsed by the Federal Housing Administration during all of 2011 -- more than any other lender.
The state's attorney general, Kamala Harris, previously backed away from negotiations because the $25 billion deal didn't go far enough to compensate borrowers in the Golden State.
But now Harris says she is back at the table trying to finalize an agreement.
More than 40 states have signed on to a proposed $25 billion settlement, according to Iowa Attorney General Tom Miller.
Miller heads the multi-state settlement negotiations.
