In what would be its third acquisition in a year, the company formerly known as BofI Holding is buying a firm that clears trades for independent broker-dealers.
First Foundation sold loans to Freddie Mac to free up space for higher-yielding credits. It then bought the securities that were formed to replace other, lower-yielding assets through an often overlooked program.
It will also invest in mortgage and small-business lending and in neighborhood revitalization efforts there. The moves are part of a nationwide expansion by the largest U.S. bank.
