MetLife Inc. plans to close its Hauppauge reverse-mortgage operations as part of the Manhattan-based insurer’s recently announced plan to exit the banking business.
A state regulatory notice filed earlier this week said 25 employees would be affected and lists July 31 as the office’s closing date. It said employees would be able to apply for other jobs within the company.
MetLife entered the reverse-mortgage business about five years ago, a spokesman said. But the company said in a recent statement, “Given MetLife’s strategic focus as a global insurance and employee benefits leader, the company decided in 2011 that a bank-holding company structure was no longer appropriate.”