3 quick takeaways from the mortgage conference happening right now

3 quick takeaways from the mortgage conference happening right now

Tidbits from SourceMedia Mortgage Servicing conference

Stewart Information Services 1Q earnings suffer from mortgage reductions

Posts net loss of $12.1 million

New home sales plummet 14.5% in March

Spring buying season off with a whimper
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MetLife pushes reverse mortgages as Wells Fargo, Bank of America retreat

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MetLife Inc., the biggest U.S. life insurer, is poised to become the No. 1 reverse-mortgage lender as Wells Fargo & Co. and Bank of America Corp. leave the market. Wells Fargo, the largest U.S. home lender, is retreating from reverse mortgages in part because of “unpredictable home values,” the company said June 16. The reverse mortgage was the most prominently featured product last week on the website of MetLife Bank, a unit that the company said may hedge the parent against declines in the main insurance business.

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