First Franklin Posts Production Record

First Franklin Financial Corp., San Jose, Calif., has reported a monthly mortgage loan production record of $2.13 billion for August, more than double the $945 million recorded a year earlier.First Franklin's year-to-date funding totals stand at $11.79 billion, surpassing its total of $10.72 billion originated in all of 2002, the company said. First Franklin also touted the fact that, at a time when many lenders have relied on the refinance boom for most of their business, its purchase-business product mix reached almost 70% in August. "By focusing our product development, sales, and marketing efforts on our purchase products, First Franklin has been successful in achieving a strong purchase-business mix," said Andy Pollock, First Franklin's president and chief executive officer. "This purchase-focused strategy will help us remain rate-resistant and keep production up if the market changes." First Franklin, a subsidiary of National City Corp., can be found online at http://www.first-franklin.com.