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First Bank of the U.S. reopens in Philadelphia after 50 years
The bank, chartered by Treasury Secretary Alexander Hamilton in 1791, reopened just days before the United States’ 250th birthday.
Mortgage News Daily highlights the reopening of the First Bank of the United States in Philadelphia after it had been closed for 50 years. The outlet notes the bank was chartered in 1791 so merchants had trustworthy currency and the credit needed to move goods to market.
The piece connects the historical milestone to today’s home equity lending challenges, arguing that technology gaps can leave lenders relying on manual, siloed verification processes that slow deal closings.
Mortgage News Daily also points to industry programming aimed at mortgage finance participants. It says STRATMOR Group opened participation for its 2026 Compensation Connection study focused exclusively on mortgage banking, with submissions due by August 15.
The outlet adds that it will host segments including Flyhome’s Tushar Garg discussing customer and stakeholder understanding, and a Capital Markets Wrap panel that will examine how credit changes could affect investor appetite for MBS and a proposed FHFA Director Bill Pulte title insurance waiver initiative.