Three years after making a big splash in mortgages and then growing its business to become the 12th largest in the U.S., insurance conglomerate MetLife is now throwing in the towel on residential finance.

The insurer said its reasoning was simple: “Today's uncertain marketplace and regulatory environment require a tremendous amount of resources – both in terms of people and capital – to effectively compete in and profitably grow the forward mortgage business. Doing so would divert these resources away from MetLife's primary focus on its global insurance and employee benefits businesses.”

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