National City Corp. last week announced it may succumb to the low profits and high risk that have plagued the U.S. subprime lending industry in recent years. The Cleveland-based bank said it is considering the sale of its subprime mortgage unit First Franklin Financial Corp., along with Pittsburgh-based mortgage servicing affiliate National City Home Loan Services Inc.

Friedman Billings Ramsey analyst Gary Townsend last week estimated the subprime lender would sell for $800 million to $1.2 billion based on its $773 million book value.

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