101 HUDSON ST FL 25 JERSEY CITY, NJ 07302 Get Directions
101 HUDSON ST FL 25 JERSEY CITY, NJ 07302 Get Directions
Franklin Credit Management Corporation is a specialty consumer finance company primarily engaged in the servicing and resolution of performing, re-performing, and nonperforming residential mortgage loans, including specialized loan collection and recovery servicing, and in the due diligence, analysis, pricing, and acquisition of residential mortgage loan portfolios, for third parties.
Franklin Credit Management Corporation has created a loan servicing capability that is focused on collections, loss mitigation and default management. In general, we seek to ensure tat the loans we service for others are repaid in accordance with the original terms or according to amended repayment terms negotiated with the borrowers and in accordance with the terms of our servicing contracts with our servicing clients. Because the loans we service generally experience above average delinquencies, erratic payment patterns and defaults, our servicing operation is focused on collections and recovery, and, therefore, maintaining close contact with borrowers and as a result, is more labor intensive than traditional mortgage servicing operations. Through frequent communication we are able to encourage positive payment performance, quickly identify those borrowers who are likely to move into serious delinquent status and promptly apply appropriate collection, loss mitigation, and recovery strategies. Our servicing staff employs a variety of collection and recovery strategies that we have developed to successfully manage serious delinquencies and defaults, bankruptcy, and foreclosure. Additionally, we maintain a real estate department with experience in property management and the sale of residential properties.
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