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Huntington Eliminates Problem Subprime Loans
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COLUMBUS, Ohio (AP) — Regional bank Huntington Bancshares Inc. says it has cleared its books of troubled mortgages inherited through a merger.
Columbus, Ohio-based Huntington said Tuesday it has restructured its relationship with subprime mortgage lender Franklin Credit Management Corp. Franklin was tied to Sky Financial Group, which Huntington acquired in 2007.
Huntington has been digging its way out of $1.5 billion in problem loans from Franklin and says the restructuring eliminates the last batch, worth $615 million. ...
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