MetLife
MetLife divests reverse-mortgage businessPosted by RJ and Makay on Apr 27, 2012 |
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MetLife Inc. has agreed to sell its reverse-mortgage portfolio to Nationstar Mortgage LLC. The firm will cut about 500 jobs and will no longer accept applications for reverse mortgages, the company said yesterday. In a further pullback from its banking business, CEO Steven Kandarian has agreed to sell about $7.5 billion of deposits to General Electric Co.
MetLife to shed bank holding statusPosted by RJ and Makay on Mar 23, 2012 |
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After failing to pass the Federal Reserve’s recent stress test, MetLife is moving to shed its bank holding status by the end of the second quarter, interim chief financial officer Eric Steigerwalt announced today. The Fed had blocked the insurer’s capital plans to increase its dividend and buy back stock because the company’s risk-based capital was less then the Fed required.
JPMorgan first to pass Fed stress testPosted by RJ and Makay on Mar 13, 2012 |
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JPMorgan Chase & Co. was the first bank today to announce that Federal Reserve regulators have finished stress tests of its balance sheet and approved both a dividend increase and stock buybacks. This afternoon, the Wall Street Journal issued a WSJ Markets Alert: JPMorgan, Bank of America Pass Fed’s Stress Tests. JPMorgan said that it will up its quarterly dividend by 5 cents, to 30 cents, and buy back up to $12 billion of stock this year.
Oscar Wilde (Irish Poet, Novelist, Dramatist and Critic, 1854-1900)
