MetLife Inc. is selling its $70 billion mortgage servicing business to JPMorgan Chase & Co. for an undisclosed price.
MetLife said last Friday that the move is part of its strategy to focus on the insurance side of its business. It decided last year that it no longer wanted to serve as a bank holding company and subsequently sold off a number of those non-core businesses.
JPMorgan Chase said the deal will strengthen its own servicing business. It expects that business will grow as consumers refinance to take advantage of currently low interest rates.
The deal will increase the company’s $1.1 trillion servicing business by more than 5 percent.
Copyright 2026 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Was this article valuable?
Here are more articles you may enjoy.
Read 14-Point Draft Memorandum of Understanding Between the US and Iran 
IMA Latest to Sue Howden Over Alleged Employee Poaching 
DeSantis Signs Citizens Commercial Clearinghouse Bill That’s Been Called ‘Unneeded’ 
AM Best Upgrades Credit Ratings of Missouri’s Columbia 
