MetLife Buys First Horizon’s Origination, Servicing Platform

Posted by Orb Staff on September 03, 2008 No Comments
Categories : Mortgage Servicing

First Horizon National Corp. has completed the sale of its mortgage origination and servicing platform outside Tennessee to MetLife Bank NA, a wholly owned subsidiary of MetLife Inc.

Included in the transaction were approximately $380 million of total assets, including servicing rights related to $19 billion of first-lien mortgage loans (all Fannie Mae conforming) and $300 million of custodial deposits related to assets sold.

First Tennessee Bank, First Horizon's principal banking subsidiary, will continue to originate mortgages for customers in the bank's Tennessee-based market footprint.

SOURCE: First Horizon National Corp.

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