Issuer

First National Financial Corporation

Non-Bank Financial Institutions

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Summary

First National Financial Corporation (First National) is one of the largest non-bank mortgage finance companies in Canada that offers single-family, multi-unit residential and commercial mortgages. Residential mortgages are originated by First National through the mortgage-broker channel, while commercial mortgages are originated directly with borrowers. Most mortgages under administration are either placed with institutional investors or are insured and securitized through government-sponsored securitization vehicles. First National retains servicing on these assets as well as provides mortgage servicing, underwriting, and administration services to third parties.