Deals
MetLife to Sell Mortgage Portfolio to JPMorgan
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MetLife Inc. agreed to sell the mortgage-servicing business of its bank to JPMorgan Chase & Co., 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.