Metlife buys mortgage company First Horizon

Metlife, the insurance giant, is making a bet that the housing market is bottoming out by purchasing residential mortgage lender First Horizon.  This purchase comes on the heels of their recent pick-up of reverse mortgage lender EverBank Financial.  I think they're crazy to jump in at this point, but I don't have a team of over-paid analysts, so what do I know.  If they have cash to burn short-term they may find some long-term advantage, but to me the risks seem severe at this point. From Bloomberg on the purchase: MetLife Inc., the largest U.S. life insurer, agreed to buy a residential mortgage business from First Horizon National Corp., expanding its bet on the U.S. housing market. The purchase includes the home loan unit of First Horizon's Tennessee Bank National Associa