Dallas Back in the Game

Bill Dallas is teaming up once again with CIVC Partners, Chicago, to purchase Oakmont Mortgage, Woodland Hills, Calif.The terms of the deal were not disclosed. Oakmont is a privately held company that had been owned by Jack Wise, who founded it in 1989. Mr. Dallas and CIVC had teamed up once before, in 1996, when Mr. Dallas reacquired First Franklin Financial, San Jose, Calif. That company was sold to National City Corp., Cleveland, in July 1999. Mr. Dallas left First Franklin in the summer of 2001. Oakmont is a nonconforming wholesaler that has over $1 billion in originations so far this year, after doing $570 million last year. Mr. Dallas will become chairman, president, and chief executive of Oakmont.