store industry mortgage founded 1967 headquarters florham park new jersey united states products mortgage loan mortgage home loan services mortgage lending owner morton dear parent mld mortgage inc. website themoneystore.com the money store is a u.s. residential mortgage lending brand owned by mld mortgage inc. a consumer finance company that is based in florham park new jersey with offices nationwide . 1 history edit originally founded in 1967 as the money store inc by alan turtletaub . the company was based in union new jersey but most of its corporate employees were based in west sacramento california . it specialized in sub prime home equity loans and also was a large small business administration lender . alan was succeeded as president by this son marc turtletaub . in 1991 the company went public and in 1997 was listed on the new york stock exchange . baseball hall of famer phil rizzuto with his holy cow ad was a longtime advertising pitchman for the company . he was then followed by jim palmer another hall of famer . 2 four known commercials also featured his wife joni palmer . the company was sold to first union corp. of charlotte n.c. for 2.1 billion in june 1998 . first union preparing for the wachovia merger split the money store into 4 divisions and dumped all first union s bad home equity loans into the money store s home equity division and took it off its company books two years later at a loss of 1.7 billion and then transferred it clarification needed wachovia along with 13 billion in shares . 2 3 however the student loan division educaid and the sba loan division were retained by first union . 4 in 2006 the money store name was purchased from wachovia corp. formerly first union by mld mortgage inc there s no direct connection to the old west sacramento based company but a veteran executive of the old company operates it . morton dear chief financial officer of original the money store is the founder and chairman of the new incarnation . 1 references edit a b new jersey firm revives the money store name . january 8 2006 . retrieved 2015 09 15 . a b anderson mark february 9 2001 . legacy of the money store . sacramento business journal . retrieved 2010 06 09 . application by first union national bank to acquire the money store inc. pdf . conditional approval . comptroller of the currency administrator of national banks . june 29 1998 . retrieved 2015 09 15 . anderson mark june 30 2000 . down in fl me . sacramento business journal . retrieved 2010 06 09 . external links edit official website retrieved from https en.wikipedia.org w index.php title the money store company & oldid 735925968 categories mortgage lenders of the united statescompanies based in new jerseycompanies established in 1967hidden categories use mdy dates from august 2016wikipedia articles needing clarification from june 2016 navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages add links this page was last modified on 24 august 2016 at 01 07 . text is available under the creative commons attribution sharealike license ; additional terms may apply . by using this site you agree to the terms of use and privacy policy . wikipedia is a registered trademark of the wikimedia foundation inc. a non profit organization . privacy policy about wikipedia disclaimers contact wikipedia developers cookie statement mobile view