Harris Financial Group of Troy, Mich., filed an application March 11 for a thrift charter, becoming the 48th nonbank with a request pending before the Office of Thrift Supervision.

Harris Federal Bank would offer mostly second mortgage loans by telephone. Geoffrey W. Stocki, vice president of Harris Financial, said the only deposit products offered would be certificates of deposit and money market savings accounts.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.