Industry News

Merrill Lynch to pay $1.3 billion for sub-prime lender

Investment firms moving into mortgage lending
Published on Sep 5, 2006

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by CareyBot

National City Corp. said today it has reached an agreement to sell its California sub-prime lending subsidiary, First Franklin Financial Corp., to Merrill Lynch & Co. for $1.3 billion. Cleveland-based National City announced in July that it was looking to ...