First Franklin Financial Corp Financial Planning and Litigation

First Franklin Financial Corp was involved in a significant financial scandal that led to its downfall. The company's financial planning and litigation issues were major contributing factors to its demise.

The company's financial planning was severely flawed, leading to a massive loss of investor funds. This was due in part to the company's use of subprime mortgage lending practices.

Investors who had entrusted their money to First Franklin Financial Corp were left with significant financial losses. Many of these investors were small business owners and individuals who had invested their life savings in the company.

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First Franklin Corp was a mortgage banking company that played a significant role in the subprime mortgage crisis.

They were a leading provider of mortgage banking services in the United States, originating and servicing over 100,000 mortgage loans per year.

First Franklin Corp was founded in 1989 and was acquired by Bank of America in 2006.

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Their business model focused on originating and securitizing subprime mortgages, which were then sold to investors.

These subprime mortgages were often given to borrowers with poor credit history, who were unable to afford the monthly payments.

First Franklin Corp's aggressive lending practices and lax underwriting standards contributed to the proliferation of subprime mortgages in the US housing market.

The company's collapse in 2007 was a major factor in the subsequent financial crisis.

Their failure to properly underwrite and service these mortgages led to a wave of defaults and foreclosures.

This, in turn, caused a significant decline in housing prices and a freeze in the US mortgage market.

First Franklin Corp's downfall was a key contributor to the global financial crisis of 2008.

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Laney v. 1st Franklin Financial Corporation was one of the class actions filed against the company after a data breach in November 2022.

At least two proposed class actions were filed against 1st Franklin Financial Corporation in the wake of the data breach. The breach reportedly compromised the personal and financial information of more than 3,000 consumers.

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The lawsuits claim that 1st Franklin Financial Corporation could have prevented the cybersecurity incident if it had heeded repeated warnings to secure sensitive data. The company chose to store consumers' unencrypted information in an internet-accessible environment, allowing an unauthorized actor to infiltrate its network.

The stolen information includes consumers' first and last names, Social Security numbers, bank account and routing numbers, addresses, earned wage figures, and other information contained in W-2 forms.

First Franklin Financial Corp. offers a range of financial planning services to help you achieve your financial goals.

Their financial planning services include investment advice, retirement planning, and estate planning, which are all tailored to meet your individual needs.

Investing your money wisely can make a big difference in your financial future, and First Franklin Financial Corp. can help you make informed decisions.

Their investment advisors have extensive experience in managing investment portfolios and can help you create a diversified investment strategy.

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A well-planned retirement can bring you peace of mind and financial security, and First Franklin Financial Corp. can help you create a personalized retirement plan.

Their financial planners will work with you to identify your retirement goals and develop a plan to achieve them.

Estate planning is an essential part of financial planning, and First Franklin Financial Corp. can help you create a plan that ensures your assets are distributed according to your wishes.

Their estate planning services include wills, trusts, and powers of attorney, which can help you protect your assets and loved ones.

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First Franklin Financial Corporation was at the center of a putative class action lawsuit filed by Plaintiff Rodriguez on March 19, 2008.

The lawsuit alleged that the company had violated the Equal Credit Opportunity Act (ECOA) and the Fair Housing Act (FHA).

Plaintiff Rodriguez filed the initial lawsuit, which was docketed as Item No. 1.

On May 30, 2008, Plaintiffs Sierra and Sergenton filed a nearly identical action against First Franklin Financial Corporation.

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This second lawsuit was docketed as Item No. 11.

The Court granted a motion to relate the two actions on June 20, 2008, effectively connecting the cases.

By January 14, 2009, the Court had consolidated the two actions, creating a single case.

This consolidation was documented as Docket Item No. 43.