Trump, First Meridian Form Alliance

The Trump Organization and First Meridian Mortgage have announced an exclusive strategic alliance and the formation of a new entity to operate as Trump Financial.First Meridian is a mortgage banker/broker dealing mostly in prime and jumbo residential real estate as well as small-balance commercial loans up to $2 million. Trump Financial will offer prospective clients an array of financial products and services while at the same time remaining focused on First Meridian's expertise in the residential mortgage arena. (First Meridian is a licensed mortgage banker in 12 states -- California, Connecticut, Florida, Illinois, Maryland, Massachusetts, New Jersey, New York, Pennsylvania, Minnesota, Virginia, and Washington, D.C.) "A lot of the guys they [Trump] were talking to dabbled in subprime business and things of that nature, which is stuff that we've always stayed away from," said David Brecher, founder and chief executive of First Meridian. "They wanted somebody who was going to be there for the long term."