The former First Franklin mortgage business associated with National City and Merrill Lynch has a separate history from Franklin First Financial Ltd. and Georgia-based 1st Franklin Financial Corporation.
Read the source: SEC EDGAR · Merrill Lynch 2007 report and First Franklin acquisition
The acquisition record
Merrill Lynch’s SEC reporting describes acquiring First Franklin from National City for $1.3 billion. The transaction is discussed in the company’s 2007 reporting, with a 2006 acquisition history. Use the transaction dates and named entities rather than swapping in a similar lender name.
Continue: First Franklin Mortgage and Merrill Lynch: The Acquisition
The 2008 shutdown
A New York court record discusses the cessation of First Franklin operations in March 2008. Origination shutdown does not itself identify the company handling the mortgage today for every mortgage made under that name.
Continue: First Franklin Mortgage: The 2008 Origination Shutdown
If the name is on your mortgage
Find the original note, latest statement and transfer notices. A mortgage trust name can contain First Franklin without being the company currently receiving your payments.
Continue: Old First Franklin Mortgage? Finding Servicing Records
Where the histories separate
Georgia business begins
The history of the company now named 1st Franklin Financial begins.
A documented name change
Franklin Discount Company becomes 1st Franklin Financial Corporation.
A separate mortgage story
Merrill Lynch acquires First Franklin; the mortgage operation later shuts down.
Franklin First civil settlement
DOJ announces a civil resolution involving the Melville lender.
Melville lender stops originating
NYDFS documents Franklin First Financial Ltd.’s origination closure.
Frequently asked questions
Was this the lender closed by NYDFS in 2018?
No. The cited 2018 order concerns Franklin First Financial Ltd., a separate identity.
Is current 1FFC the same company?
The records we checked do not establish that identity or successor relationship.
Sources
Read the original documents and company pages behind this guide.
- SEC EDGAR · Merrill Lynch 2007 report and First Franklin acquisition www.sec.gov · reviewed October 16, 2026
- New York State courts · 2013 First Franklin opinion www.nycourts.gov · reviewed October 16, 2026
- CFPB · Mortgage lender and servicer: different roles www.consumerfinance.gov · reviewed October 16, 2026
