Inventory
info icon
Single family homes on the market. Updated weekly.Powered by Altos Research
735,718-296
30-yr Fixed Rate30-yr Fixed
info icon
30-Yr. Fixed Conforming. Updated hourly during market hours.
6.94%0.02
Mortgage

MetLife Home Loans to pay $123.5M in mortgage resolution

Admitted it knowingly made faulty mortgages

MetLife Home Loans agreed to pay $123.5 million to resolve allegations it knowingly made mortgages insured by the government that failed to meet federal underwriting standards, an article in The Wall Street Journal said.

The deal between the MetLife unit and the Justice Department involves loans insured by the U.S. Department of Housing and Urban Development’s Federal Housing Administration.

MetLife admitted as part of the settlement that its banking subsidiary had been aware that a substantial percentage of loans weren’t eligible for FHA mortgage insurance due to its own internal quality-control findings. These quality-control findings were routinely shared with MetLife Bank’s senior managers, including the chief executive officer and board of directors, the Justice Department said.

Most Popular Articles

Latest Articles

Lower mortgage rates attracting more homebuyers 

An often misguided premise I see on social media is that lower mortgage rates are doing nothing for housing demand. That’s ok — very few people are looking at the data without an agenda. However, the point of this tracker is to show you evidence that lower rates have already changed housing data. So, let’s […]

3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please