• Image 01
  • Image 02
  • Image 03
  • Image 04
  • Image 05
  • Image 06
Have you experienced hardship due to COVID-19?     Click Here
×

COVID-19 Hardships

As the situation surrounding COVID-19 continues to evolve, we wanted to reach out and assure you that our servicing team is here to work with you. If you’ve been impacted by COVID-19, and are experiencing income loss or financial hardship, we have Loss Mitigation agents available to answer any of your questions, and let you know what account assistance may be available to you. Please call us at 1-800-650-7162


Customer Letter
NY State Homeowners Click Here
×

New York State Homeowners Advisement

If you are experiencing a financial hardship due to COVID-19, you may be eligible for loss mitigation. Please respond by providing us with additional information by contacting Franklin at the below-referenced telephone number.

When you are providing additional information, please note that we will also ask you to confirm your name, social security number and whether the property is still your primary residence.

In addition, we will provide to you, a list of government approved housing counseling agencies in your area which provide free or very low-cost counseling. These agencies specialize in assisting homeowners who are facing financial difficulty. You may consider contacting one of these agencies immediately for assistance. Housing counselors can help you assess your financial condition and work with you to explore options that may be available to you which may include loan forbearance, modifying your loan or assistance with establishing an easier payment plan for you.

You may contact Franklin’s Loss Mitigation Department directly Monday – Friday, 8:00 am to 5:00 pm Eastern Time, to discuss possible options.

800-650-7162

If you need further information, please call the HOPE NOW HOTLINE: 888-995-4673 or visit the Departments’ website: Click Here (Please note NY may from time to time change the number of its toll-free helpline and/or its web address.)

New York City Language Access Statement →
New York City Language Access Statement →
×

New York City Language Access Statement

Please be advised that the only language access service we have available, other than English, is to speak with a representative in Spanish. We do not provide written translations of any communications into a language other than English.

Please be further advised that a translation and description of commonly-used debt collection terms is available in multiple languages on the New York City Department of Consumer Affairs’ website, www.nyc.gov/dca

Need assistance? Contact Us: 1-800-255-5897

¿Habla Español? | Clic Aqui

¿Habla

español?

Menu

  • Home
  • About Us
    • Company Overview
    • Management Team
    • Board of Directors
  • Your Loan Service Center
  • MAKE A PAYMENT
  • Business Service Center
  • Contact Us
  • Home
  • About Us
    • Company Overview
    • Management Team
    • Board of Directors
  • Your Loan Service Center
  • MAKE A PAYMENT
  • Business Service Center
  • Contact Us
You Are Here: Home → Loan Service Center → Frequently Asked Questions

Frequently Asked Questions

Welcome to the Franklin Credit Loan Servicing Frequently Asked Questions and Answers section. Here you will find the answers to our borrowers more commonly asked questions. We hope you find them helpful.

  • DID MY 1098 GO OUT?
    • All 1098/1099 interest statements are mailed out by January 30th. If you did not receive your 1098/1099 please contact our Customer Service department at 1 (800) 255-5897 during the following hours:

      Monday and Wednesday, 8:00 AM - 8:00 PM ET , Tuesday, Thursday, and Friday 8:00 AM - 5:00 PM ET.

  • WHAT IS MY PRINCIPAL BALANCE?
    • Your principal balance can be located on your monthly billing statement under the section labeled - Principal Balance* As Of (Mortgage Statement Date).

      * This is your Principal Balance only, not the amount required to pay your loan in full.

  • WHERE CAN I MAIL CORRESPONDENCES?
    • For general customer service questions, it is always recommended that you contact us by phone at 1 (800) 255-5897. If you need to request information from the company our mailing address is:

      Franklin Credit Management Corporation 101 Hudson Street, 25th Floor Jersey City, NJ 07302

      Please include your name, address and account number to insure proper processing.

  • WHY IS MY BILLING STATEMENT SHOWING THAT I OWE FOR 2 MONTHS?
    • All billings statements are sent out 15 days before your next due date. If you still owe a payment by the time your billing statement is generated, it will always show your next month's payment plus any past due payments. If you have any questions regarding your statement, it is always recommended that you contact our Customer Service Department at 1 (800) 255-5897 to clarify.

  • CAN I CHANGE MY MAILING ADDRESS?
    • Absolutely! Simply send in a written signed request to our Customer Service Department stating your changes. The address for our Customer Service Department is as follows:

      Franklin Credit Management Corporation 101 Hudson Street, 25th Floor Jersey City, NJ 07302

  • CAN YOU SEND ME A PAYOFF LETTER?
    • All Payoff requests are handled by our Payoff Department. Please send in a written signed request to:

      Franklin Credit Management Corporation 101 Hudson Street, 25th Floor Jersey City, NJ 07302

      Or fax the Payoff Letter request to (201) 839-4512 Attn: Payoff Department.

  • CAN I GET A COPY OF LAST YEAR'S 1098 FORM?
    • You sure can! Our research area can obtain this information for you. To order please contact our Customer Service Department at 1 (800) 255-5897. There will be a $15.00 processing fee for this assistance.

  • WHAT PAYMENT OPTIONS ARE AVAILABLE?
    • We currently offer the following payment options: Western Union Quick Collect, Money Gram, Western Union Phone Pay and our Automatic Draft.

  • CAN I DEFER A PAYMENT?
    • Yes, Franklin Credit does offer deferments to qualified Borrowers. Please contact Franklin Credit at 1 (800) 255-5897 to hear more about the deferment program or other payment plans that are available.

  • DOES FRANKLIN CREDIT SUBORDINATE?
    • For select situations, yes, Franklin Credit does subordinate. Please contact the Customer Service Department for more information. The toll free number is 1 (800) 255-5897.

  • WHY DID FRANKLIN CREDIT PURCHASE MY LOAN?
    • As a common practice in the Mortgage industry, companies like Franklin Credit regularly purchase loans from other institutions.

  • CAN I START ESCROW?
    • Yes, Franklin Credit prefers that all 1st lien loans are escrowed for taxes and insurance. First make sure that Franklin Credit is the 1st lien holder of your mortgage, and then send in a written request to our Customer Service Department:

      Franklin Credit Management Corporation 101 Hudson Street, 25th Floor Jersey City, NJ 07302

  • CAN FRANKLIN CREDIT REDUCE MY INTEREST RATE?
    • This is not a normal occurrence at Franklin Credit and would only happen during a full account restructure or in a special situation which would have to be approved. If you feel that your account needs to be reviewed for possible rate reduction, please contact our Customer Service Department at 1 (800) 255-5897 for direction to one of our Loss Mitigation professionals.

  • WHEN WILL I RECEIVE MY SATISFACTION DOCUMENTS?
    • Upon completion of your obligation, a release of lien and satisfaction of mortgage will be completed and mailed to your home of record within 30 days.

  • HOW CAN I DISPUTE SOMETHING ON MY CREDIT REPORT THAT FRANKLIN CREDIT REPORTED?
    • For all concerns regarding anything reported on your credit, it is recommended that you voice those concerns directly to the credit reporting agency. The credit reporting agency will notify Franklin Credit of your concerns and insure that a proper resolution is achieved.

  • WHEN WILL I GET MY REFUND IF I OVERPAID AT TIME OF PAYOFF?
    • If your account warrants a refund for any overpayments, all payments will be sent within 45 days of original receipt.

  • WHAT CONSTITUTES AUTHORIZATION FOR SOMEONE TO DISCUSS A LOAN OTHER THAN THE BORROWER?
    • To insure privacy for your account, it is very important that Franklin Credit receives one of the following: A Power of Attorney, Executor of Estate, or Signed written Consent from the Borrower. Without receipt of these forms, we are unable to discuss your account with anyone.

  • Why am I receiving a message that my account doesn’t exist when I try to make an online payment through Western Union?
    • You may not be using a full 10 digit number for the account number. Try entering zeroes in front of your loan number so that it becomes a 10-digit number.

Loan Servicing:


  • Make a Payment
  • Request a Payoff
  • Speak to someone about my account
  • FAQ's about your Account
  • Loss Mitigation Payment Options
  • Loss Mitigation Documents


  • Contact Us
  • Website Privacy Policy
  • Terms of Use
  • Licensing
  • Schedule of Fees

© 2022 Franklin Credit Management Corporation
All Rights Reserved
NMLS Consumer Access | Privacy Policy | Terms of Use | Sitemap