The story
DFC was incorporated in 1996 as a Delaware corporation. It was a sub-prime lender focused on lending to individuals who generally did not satisfy the credit, documentation or other underwriting standards set by more traditional sources of mortgage credit, including entities that issued loans in compliance with the conforming lending guidelines of Fannie Mae and Freddie Mac. In 2006, DFC originated $4.0 billion of loans; in 2005 it originated $3.8 billion. A substantial amount of these loans were sourced through telemarketing.
From Wikipedia’s article on Delta Financial Corporation, shared under CC BY-SA 4.0.5