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MetLife May Sell Mortgage Business to Focus on Insurance

MetLife Inc., the life insurer selling banking assets to limit federal oversight, may also seek a buyer for its mortgage operation as it increases focus on its main businesses.

Chief Executive Officer Steven Kandarian, who took the job in May, is planning to exit a business that expanded in June when it replaced Bank of America Corp. as the preferred lender of builder KB Home. Kandarian announced in July he was putting the deposits business on the market as the federal government tightens rules on the biggest financial firms.