First Franklin Financial Corp., one of the largest privately held mortgage banks, is in the final stages of selling itself to DLJ Merchant Banking, a top First Franklin officer said.

No agreement has been signed, said First Franklin president William Dallas, but one is likely "in the next several days." Mr. Dallas will remain as president of the company and its headquarters will remain in San Jose, Calif.

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.