Hacienda's MetLife Home Loans Growing at a Substantial Rate

By Nicole Zaro Stahl, Hacienda Network Staff Writer

Wholesale Fulfillment Center has Tripled Hacienda Staff Since Beginning of 2011

In the nine months since moving into expanded quarters at 4256 Hacienda Drive, MetLife Home Loans has just about tripled its headcount. Home to the Pleasanton Wholesale Fulfillment Center, the 22,000 square foot facility now accommodates a staff of 90 mortgage professionals, from loan processors and underwriters to document drawers and funders, along with appraisers and quality auditors. The site also supports a sales force of 18 account executives who call on mortgage brokers throughout the northwest, all the way to Idaho.

"We are one of six fulfillment centers across the country," remarks Center Director Sharlee Stemmons. "We make credit decisions, underwrite and fund loans, and interface with title agents to make sure all closing documents are in order, so customers can refinance or move into their new home. We have grown rapidly," Stemmons adds.

In contrast to the retail mortgage offices, which deal directly with residential customers, the MetLife Wholesale Center targets the broker community. Doing business with a broker offers consumers the advantage of a wider range of options, Stemmons explains.

Most banking units have a wholesale division, which works with third-party brokers acting on behalf of residential borrowers, she continues. "Consumers can deal directly with their own bank, or they can go to a broker who represents their financial interests and shops lenders for them. Brokers use their experience in the industry to pre-qualify borrowers and take the time to find the best fit with a lender, such as interest rate or program."

A relative newcomer to the mortgage business, MetLife Home Loans is a division of MetLife Bank N.A., which actively embarked on a path of growth in the industry in 2008. By 2010, MetLife Home Loans was ranked second among customers originating a new mortgage, according to a J.D. Power and Associates satisfaction survey.

MetLife Bank is a subsidiary of the 140-year-old MetLife, Inc., the largest life insurer in the United States (based on life insurance in-force). "Through its domestic and international subsidiaries and affiliates, MetLife, Inc. reaches more than 70 million customers around the world," according to the corporate website.

MetLife is widely known for its long relationship with the Peanuts characters created by cartoonist Charles Schulz. Snoopy and his red dog house appear prominently in the MetLife Home Loans logo. The character is also the namesake of MetLife's three-blimp fleet of airships. Over the winter season, Snoopy Two is often seen covering West Coast sporting events.

The parent company's family-centric orientation was recently reinforced by its inclusion in Working Mother magazine's 2011 list of 100 best companies for working mothers - for the 13th year in a row. MetLife, Inc. scored high marks for its "benefits and company culture, as well as for its work-life programs, which include flexible work arrangements, health and wellness offerings, back-up child care, associate discounts, an employee assistance program and support for mothers and pregnant women," the company announced.

For more information, visit www.metlifebank.com.

Photo: The Hacienda staff of MetLife Home Loans has grown substantially since the beginning of the year.

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