Direct Mortgage Partners Inc., a subsidiary of Florida-based CFI Mortgage Inc., opened a correspondent lending office in Orange, Calif., specializing in subprime loans.

Rodger Stubbs, managing director of Direct Mortgage Partners, said the opening "is another step in the company's program to penetrate all of the nation's major markets."

Direct now operates 16 offices in three states.

Mr. Stubbs said the company's principal emphasis at this time is to securitize its subprime loan production. The company securitized $15.9 million in B and C loans produced in August.

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