A group led by William D. Dallas, the former chairman of First Franklin Financial Corp., acquired Oakmont Mortgage, a nonprime wholesale lender in Woodland Hills, Calif., Mr. Dallas said Thursday.
The partnership, Pitchfork LLC, is also made up of CIVC Partners, a Chicago private equity firm whose backers include Bank of America Corp.; Oakmont management; and others.
Mr. Dallas, who in an interview would not disclose the price, was named the chairman, president, and chief executive of Oakmont. It originated about $570 million of nonprime loans in 2002 and has originated more than $1 billion this year through Nov. 30.
