Franklin Credit Management Team
- Chairman - Thomas J. Axon
Thomas Axon is the Chairman of the Board of Directors of Franklin Credit. Mr. Axon served as the Company's President and Chief Executive Officer from 1994 until 2000. Since 1985, Mr. Axon has been the President and principal owner of RMTS Associates, LLC. Mr. Axon holds a BA in Economics from Franklin and Marshall College and attended the New York University Graduate School of Business.
- Chief Financial Officer - Paul D. Colasono
Paul D. Colasono joined the Company in April 2005 as Executive Vice President and Chief Financial Officer. Mr. Colasono has thirty years of management experience in a broad range of senior management positions in the retail banking and mortgage banking industries. He was Vice President and Controller at GE Capital Mortgage Services Corporation. Mr. Colasono served in various management capacities at the Dime Savings Bank of New York, where he was President and CEO of the Dime Savings Bank of New Jersey. Mr. Colasono served as Chief Administrative Officer and Chief Financial Officer of the mortgage banking division; Executive Vice President/Director of Strategic Planning; and was First Senior Vice President and Controller. Mr. Colasono began his career at the Chase Manhattan Bank, N.A. in 1969, and holds a BS and an MBA (Accounting) from St. John's University.
- Executive Vice President, Chief Legal Officer and Secretary – Kevin P. Gildea
Kevin P. Gildea has served as the Company’s Chief Legal Officer/ General Counsel since March 2006, Secretary since August 2006, and Executive Vice President since October 2009. From March 2005 to March 2006, he was Associate General Counsel. Mr. Gildea has been continuously in the employ of the Company since March 2005, and was previously in the employ of the Company from February 2000 to November 2001. From November 1995 to February 2000 and from December 2001 to February 2005, Mr. Gildea was an Administrative Law Judge with the New York State Department of Labor, Unemployment Insurance Appeal Board. Mr. Gildea, a practicing attorney since 1994, is admitted to the bars of the State of New York and Commonwealth of Massachusetts, and is licensed as an in-house attorney in the State of New Jersey. Mr. Gildea holds a B.A. from Boston College in Political Science (1991); attended Boston College Law School as a visiting student (1993-1994); and holds a J.D. from Albany Law School of Union University (1994).
- Business Development - Stephen T. Hague
Stephen T. Hague is the Executive Vice President of Business Development for Franklin Credit. Mr. Hague brings a wealth of experience to Franklin Credit with over 25 years of management, risk analysis, acquisitions, product development and sales in the mortgage banking, insurance and consumer lending industries. Prior to joining Franklin Credit, Mr. Hague served as Chief Operating Officer for RMTS, a New York based stop loss medical reinsurance company, overseeing operations, sales, underwriting, financial reporting and systems. Prior to RMTS, Mr. Hague served as Vice President of Customer Relations for the Bohan Group, a leader in the mortgage analytics and due diligence field. This is his second tenure with Franklin Credit, having previously served as our Director of Acquisitions from 1993 to 2002. Mr. Hague holds a BS in Accounting from Villanova University.
- Vice President (Face to Face) - John Kurila
John Kurila is Vice President for the Company’s Face to Face Home Solutions product, “Face to Face”, which debuted in 2008 as a specialized in-person borrower communication alternative for mortgage investors, servicers and insurers. Mr. Kurila joined Franklin Credit in 2006, and was initially assigned to its human resources department. Prior to joining the Company’s management team, Mr. Kurila was employed by A.I.G., where, over a span of 10 years, he rose to the level of Vice President of Excess Claims. Mr. Kurila was also the founder and President of an entity specializing in the investigation of worker’s compensation fraud and Vice President at Continental Insurance Co., where he was in charge of claims for the five (5) boroughs of New York City and Nassau and Suffolk counties. Mr. Kurila holds a BBA degree in management from St. John’s University, where he was a member of the varsity basketball and baseball teams. Mr. Kurila is also a former N.C.A.A. basketball referee.
- Business Development and Mortgage Services- Peter Medford
Peter Medford is Senior Vice President of Business Development and Mortgage Services. Peter has been with Franklin Credit for over 10 years and currently is responsible for the Due Diligence and Forensic Underwriting Division which specializes in providing third party investors with risk stratification on distressed asset portfolios and also validating underwriting standards and misrepresentations for claims incurred by Mortgage Insurance providers. Peter previously headed the Flow Acquisitions Department and has extensive industry experience analyzing and pricing a wide range of residential mortgage assets. Peter holds a BS in finance from the University of Scranton.
- Asset Recovery and REO – Glenn Murphy
Glenn Murphy is the Senior Vice-President of the Asset Recovery and REO departments. The Asset Recovery department oversees the filing, enforcement and collection of money judgments. The REO (real estate owned) department, is responsible for managing or disposing of properties acquired through foreclosure in an orderly, timely, and cost-efficient manner in order to maximize clients’ returns on assets, and coordinates property preservation for all first-lien properties serviced by the company and the administration of the company’s Property Inspection and Homeowner Relief programs. Mr. Murphy joined Franklin Credit in 1998, and has had various roles in loan acquisitions, REO and Asset Recovery. A former U.S. Marine, Mr. Murphy graduated from Pace University, and holds a BA in Accounting, as well as an MBA (finance) with honors from the Pace/Lubin School of Business.
- Chief Information Officer & Senior Vice President - Bob Palmer
Bob Palmer is CIO, Senior Vice President. Mr. Palmer is responsible for the firm’s information technology assets and has been employed by Franklin Credit for approximately 3 years. Previously, he was CIO and Senior Vice President at Lenox, where he served 11 years, and Johnson & Johnson where he served for 6 years. Mr. Palmer holds a BS from Rowan University, an MBA from Rider University, and post graduate Darden Partnership certificate from Darden Graduate School of Business, University of Virginia. Mr. Palmer was been named by Computerworld magazine as a Premier Leader and Best In Class award winner in 2001.
- Vice President, Default Servicing - Joseph Prat
Joseph Prat joined the Company in February 2010 as Vice President of Default Servicing. From January 2007 to January 2010, he served as a Senior Data Architect at Fortress Investment Group, where he created, managed, and implemented a data warehouse and related infrastructure for sub-prime mortgage origination and servicing applications, managed a team of information technology developers and worked closely with senior management and asset managers. Mr. Prat was previously employed by the Company, from December 2002 to January 2007, as Vice President of the Management Information System and Information Technology Department. He holds a Bachelor of Arts degree in economics with a minor in accounting and finance from Rutgers University.
- Executive Vice-President, Managing Director of Servicing and Recovery – Jimmy Yan
Jimmy Yan joined the Company in January 2010 as Executive Vice President and Managing Director of its servicing and asset recovery operations. From June 2005 to December 2009, Mr. Yan was employed by Deutsche Bank Securities Inc. as Vice President, during which time he was responsible for managing a dozen mortgage servicers. Prior to his position with Deutsche Bank Securities, Mr. Yan, from August 2000 to June 2005, managed the Company’s default operations. Mr. Yan holds a Bachelor of Science degree in finance from the State University of New York at Buffalo.