Volume 18 - Number 14
July 11, 2014
Downloads Available: Mortgage Origination Forecasts through 2Q15
New Jersey Lender Exits Retail Mortgage Business
Sun Bancorp, a $3.5 billion banking institution in New Jersey, is leaving the retail mortgage banking business and cutting back on direct home-equity lending due to declining profitability and tighter regulation. The moves are part of a comprehensive plan presented by Thomas O’Brien, Sun Bancorp’s new president and chief executive officer, who was brought on board as a consultant in April to restructure the company and ... [Includes one data chart]
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