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.