| 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.
First Franklin Financial Corp. announced production last month of $2.79 billion, 14% better than reported during April. 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. |
