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First Franklin was founded in 1981 in San Jose, California, US, to serve the prime credit market, but in 1994 it switched to serve the nonprime lending market.(One of the co-founders of the company was Bill Dallas, who served as its chairman, CEO and chairman emeritus until 2003, and who subsequently bought OwnIt Mortgage Solutions, which was 20% owned by Merrill Lynch.
2008: National City Corp. disclosed in a regulatory filing that it is the subject of an "informal" Securities and Exchange Commission investigation related to matters including loan underwriting, bank regulatory matters, and the sale of a subprime subsidiary, First Franklin Financial Corporation, to Merrill Lynch for $1.3 Billion in 2006. [91]
First Franklin may refer to: ... First Franklin Financial Corp., a mortgage lender ... Contact Wikipedia; Code of Conduct; Developers;
First Union Corporation: Center Financial Corporation(CenterBank) First Union Corporation: Wells Fargo: 1996 Fleet Financial Group, Inc. National Westminster Bancorp, a subsidiary of National Westminster Bank: Fleet Financial Group, Inc. Bank of America: 1996 Crestar Financial Corp. Citizens Bancorp (Laurel, MD) Crestar Financial Corp. Truist ...
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In the same year, the company opened its first office outside North America in Taiwan. In 1988, Franklin acquired L.F. Rothschild Fund Management Company. Assets under management for Franklin grew from just over US$2 billion in 1982 to more than US$40 billion in 1989 (the crash of 1987 had little impact on Franklin's income and bond funds).