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« Reverse Mortgage Rates – November 3, 2009
REMO Live Adds New Features to Reverse Mortgage CRM System »

MetLife Bank CEO Named to Most Powerful Women in Banking List

November 3rd, 2009  |  by John Yedinak Published in MetLife, News, Reverse Mortgage  |  17 Comments

image MetLife Bank’s chief executive officer Donna Demaio was named as one of American Banker’s Most Power Woman in Banking. 

Coming in at #14, Demaio has been busy taking advantage of opportunities left from the mortgage crises by purchasing EverBank’s Reverse Mortgage division and First Horizon home loans and instantly making it a player in the origination business.  "We used to be a little bank attached to a big insurer, and now we’re a little bank with a big mortgage business," DeMaio says.

MetLife is now the eighth-largest mortgage provider and fourth-largest seller of reverse mortgages according to the article.  Staff count has ballooned from 85 to more than 3,000; asset size nearly doubled, to $15 billion, and net income in the second quarter of 2009 more than tripled, to $108 million, over the same period last year.

"As with any acquisition, you always have the integration to deal with in the first year, but it’s gone as well as one could expect," says DeMaio, explaining that she spent much of the past year visiting branches and easing employees into the MetLife fold.

MetLife’s reverse mortgage business is growing quickly with volume up 125% over last year according to RM Insight.  The company has endorsed 2142 HECMs YTD and is the 6th largest reverse mortgage lender in 2009.   

#14 Donna Demaio

Technorati Tags: Reverse Mortgage,News,HECM,FHA,HUD,American Banker,MetLife

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  • Anonymous

    Glad to know what’s up with Met. Just to let you know, I’m not having any problems with turnaround times at Generations. I’ll stick with them.

  • Anonymous

    Most mortgage companies are seeing underwriting delays this year. There are several reasons for this.rnrnLoan qualifying parameters keep changing, and the producers of underwriting software don’t keep up. The “Making Home Affordable” refinances were intially nightmarish for lenders, as Fannie and Freddie (who owned the eligible loans) couldn’t sort out their own software until about 2 months after the program was announced.rnrnThere is a shortage of skilled underwriters. It’s not a job you can just walk into – most underwriters start out as processors, and being a processor is a VERY rough job.rnrnAdd a hiring freeze or two, and there you go.

  • Anonymous

    If you mean, alais wealthone (another unwilling to stand upright and tellrnthe world who he/she is), by “old school” that I still write (and speak) the rntruth, as I (and unfortunately my Senior Clients) see (and have experienced it with ML, as you call them). The answer is an emphatic YES!!!!

  • Anonymous

    ML is quite the mystery, they used a contract recruiter before but supposedly brought it in-house. Interestingly enough, that “in-house” recruiter was not aware of any delays in processing. HmmmrnrnJames, your writing sounds a bit like another “elder” writer that used to post a lot here. You’re going OLD SCHOOL on us.

  • Anonymous

    Alaska’s Bridge to nowhere? lol

  • Anonymous

    Forget it, Reverse Guy, when you are my age (71) and many years agorn(Longer than I care to remember: Great , wonderful memories however)rnI was extremely successfully employed (Nationwide Sales Leader in Four Color Full page newspaper product ads and a couple of thousand case sales orders to a single retail store) by Procter and Gamble, I know what represents outstanding Corporate activity. I laugh at you “young kids” or rn”Old Corporae Hides” who think that by not pointing out what is, in my opinion, corporate irresponsibility, things change. FHA Clients come first in my book, not lenders who fail to underwrite in a timely manner. AS far as “burning a bridge”, unless and until changes are made and underwriting time is improved, that for me would be comparable to Alaska’s Bridge to no where. Perhaps others have had more success, but I’ll stand by my comments with my actual name, unlike you reverse guy, another alais rnperson without courage. As I have told others, I hope you treat your Senior clients with greater integrity.rn

  • Anonymous

    Uhhhh…maybe it is a wise career decision to keep your personal viewpoints on a market leader and job interview details to yourself, James. The term “don’t burn any bridges” would definitely apply here…

  • Anonymous

    Perhaps Ms. Demaio can figure out why it takes her Company so long to process (underwrite) an FHA HCEM. The last time my processor usedrnthem it was an unbelievably, loooooooong nightmare. Talk about an unhappy Client–my customer was livid. And by the way, this comment has nothing to do with the fact that regional managers of this company turned me down for employment. I had caught the eye of one of this company’s recruiters who thought my knowlege of the FHA HECM program, and Senior life in general,rnwould be a “fantastic fit” (Her words, not mine) for them. For some strangernreason, managers sitting on their dead asses living off the hard work of loan originators thought I would be “difficult to work with” (Of course, they meant boss.). Can you imagine that! (My wife says yes. Of course, after 41 years of marriage, She thinks She is an expert.)

  • jamesanelson

    Perhaps Ms. Demaio can figure out why it takes her Company so long to process (underwrite) an FHA HCEM. The last time my processor used
    them it was an unbelievably, loooooooong nightmare. Talk about an unhappy Client–my customer was livid. And by the way, this comment has nothing to do with the fact that regional managers of this company turned me down for employment. I had caught the eye of one of this company's recruiters who thought my knowlege of the FHA HECM program, and Senior life in general,
    would be a “fantastic fit” (Her words, not mine) for them. For some strange
    reason, managers sitting on their dead asses living off the hard work of loan originators thought I would be “difficult to work with” (Of course, they meant boss.). Can you imagine that! (My wife says yes. Of course, after 41 years of marriage, She thinks She is an expert.)

  • ReverseGuy

    Uhhhh…maybe it is a wise career decision to keep your personal viewpoints on a market leader and job interview details to yourself, James. The term “don't burn any bridges” would definitely apply here…

  • jamesanelson

    Forget it, Reverse Guy, when you are my age (71) and many years ago
    (Longer than I care to remember: Great , wonderful memories however)
    I was extremely successfully employed (Nationwide Sales Leader in Four Color Full page newspaper product ads and a couple of thousand case sales orders to a single retail store) by Procter and Gamble, I know what represents outstanding Corporate activity. I laugh at you “young kids” or
    “Old Corporae Hides” who think that by not pointing out what is, in my opinion, corporate irresponsibility, things change. FHA Clients come first in my book, not lenders who fail to underwrite in a timely manner. AS far as “burning a bridge”, unless and until changes are made and underwriting time is improved, that for me would be comparable to Alaska's Bridge to no where. Perhaps others have had more success, but I'll stand by my comments with my actual name, unlike you reverse guy, another alais
    person without courage. As I have told others, I hope you treat your Senior clients with greater integrity.

  • Louise321

    Alaska's Bridge to nowhere? lol

  • wealthone

    ML is quite the mystery, they used a contract recruiter before but supposedly brought it in-house. Interestingly enough, that “in-house” recruiter was not aware of any delays in processing. Hmmm

    James, your writing sounds a bit like another “elder” writer that used to post a lot here. You're going OLD SCHOOL on us.

  • jamesanelson

    If you mean, alais wealthone (another unwilling to stand upright and tell
    the world who he/she is), by “old school” that I still write (and speak) the
    truth, as I (and unfortunately my Senior Clients) see (and have experienced it with ML, as you call them). The answer is an emphatic YES!!!!

  • Melina1222

    Most mortgage companies are seeing underwriting delays this year. There are several reasons for this.

    Loan qualifying parameters keep changing, and the producers of underwriting software don't keep up. The “Making Home Affordable” refinances were intially nightmarish for lenders, as Fannie and Freddie (who owned the eligible loans) couldn't sort out their own software until about 2 months after the program was announced.

    There is a shortage of skilled underwriters. It's not a job you can just walk into – most underwriters start out as processors, and being a processor is a VERY rough job.

    Add a hiring freeze or two, and there you go.

  • TexasReverse

    Glad to know what's up with Met. Just to let you know, I'm not having any problems with turnaround times at Generations. I'll stick with them.

  • Anonymous

    Glad to know what’s up with Met. Just to let you know, I’m not having any problems with turnaround times at Generations. I’ll stick with them.

.


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