The acquisition of a home lender that maintains its headquarters in the Volunteer State will create a mortgage banking firm that ranks among the nation’s 15 largest.

During the first-three months of this year, Franklin American Mortgage Co. originated approximately $3.425 billion in single-family loans.

Retail originations accounted for 5 percent of production, while another 29 percent was wholesale lending, and two-thirds was correspondent acquisitions.


Source: Mortgage Daily