2012-11-05 — bloomberg.com
MetLife Inc. (MET) agreed to sell the mortgage-servicing business of its bank to JPMorgan Chase & Co. (JPM), 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,
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