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July 14, 2014

New Jersey Bank Throws in the Towel on Retail Mortgages

By George Brooks

The moves are part of a comprehensive plan presented by Thomas OíBrien, Sun Bancorpís new president and CEO who was brought on board as a consultant in April to restructure the company.

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Poll

With originations expected to drop in 2018, will your shop turn to non-QM/non-prime mortgage products as a way to bolster volumes?

Yes, definitely. We’re planning a launch.

33%

No. It’s still difficult compliance/regulatory-wise.

20%

Maybe. It’s under consideration.

33%

Not now. But things could change as 2018 progresses.

13%