MetLife was selected by the American Bankers Association (ABA) as its exclusive provider of reverse mortgage programs through its wholesale channel.
The company will provide member banks a streamlined broker/correspondent approval and on-boarding process along with access to proprietary MetLife research said a statement from the ABA.
“We’re pleased to add MetLife Home Loans as a business partner,” said Deborah Whiteside, senior vice president of mortgage for ABA Total Business Solutions. “MetLife Home Loans will provide our member banks with both strong products and dedicated support in the reverse mortgage arena.”
“We are excited to be working with the ABA and their member banks,” said Michael Mooney, wholesale and correspondent sales director for MetLife Home Loans. “We are confident that this relationship will help to provide even more senior Americans with knowledge about, and access to, an important product that many of their peers have found so helpful in funding a secure retirement.”
ABA used to have an exclusive relationship with Financial Freedom, but the relationship was terminated six months ago said the ABA.
MetLife also recently added a partnership with Lenders One Mortgage Cooperative as its newest preferred investor for reverse mortgages.