|Best Ever at First Franklin
$2.79 billion May fundings
June 24, 2004
By MortgageDaily.com staff
|The subprime subsidiary of National City reported that its May production was higher than any other month in its history.
Purchase business was 67% of originations, while a 2-year LIBOR ARM accounted for more than half, according to the announcement.
The company, which reportedly was established 22 years ago, said May production exceeded forecasts by nearly 30 percent.
“I’m proud of First Franklin’s record-breaking May, and I believe it’s just the beginning of a very productive summer,” CEO Andy Pollock said — adding that he is bullish because of the California-based lender’s current pipeline.
So, you’re interested in refinancing your mortgage. Maybe you want some extra capital to do that home project you’ve always dreamed of, interest rates are nearing record lows, or you want to start consolidating debt. Regardless of the motivation behind the refinance,...