MetLife to Sell Mortgage Portfolio to JPMorgan - Bloomberg
MetLife Inc. (MET) agreed to sell the mortgage-servicing business of
its bank to JPMorgan Chase & Co. (JPM), as the biggest U.S. life
insurer works to reduce oversight from federal regulators.
The deal will help JPMorgan, the biggest U.S. bank by assets,
increase its servicing business by more than 5 percent, according to a
statement issued yesterday. Terms of the transaction for the portfolio
of about $70 billion weren’t disclosed, New York-based MetLife said.
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