Republic First said that its mortgage origination platform’s focus on long-term jumbo mortgage products no longer matches the company’s strategic preferences.
The bank said it would also cut back on its commercial mortgage business in New York City.
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Republic First Bank is shuttering its legacy mortgage origination business to focus on core business lines, the Philadelphia-based bank’s holding company, Republic First Bancorp, has announced. So reports Dow Jones Newswires.
Republic First said that its mortgage origination platform’s focus on long-term jumbo mortgage products no longer matches the company’s strategic preferences.
The bank said it would also cut back on its commercial mortgage business in New York City.