A commercial bank chartered by the U.S. Treasury's Comptroller of the Currency. A national bank functions as a member bank of the Federal Reserve in the capacity of investing member of its district Federal Reserve Bank, and must be a member of the Federal Deposit Insurance Corporation (FDIC). MetLife Bank is a national bank.
A type of loan that is secured by collateral, which is usually property. A reverse mortgage is one type of non-recourse mortgage. When the loan becomes due and payable, the borrowers or their estate may not have to repay more than the property's value, and have no personality liability if the mortgage balance is more than the property value.