Mortgage Servicing Fraud
occurs post loan origination when mortgage servicers use false statements and book-keeping entries, fabricated assignments, forged signatures and utter counterfeit intangible Notes to take a homeowner's property and equity.
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Has anyone else here had problems with Franklin Credit Management?  I have had continual problems with payments being applied incorrectly, late fees being assessed erroneously, entire payments applied solely to escrow, etc.  If anyone else here has had any issues with Franklin Credit Management Corp. I would greatly appreciate comparing notes to see if this is how they typically treat people.

Thank you.
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I took a quick look on the web for info.

They specialize in late and or delinquent mortgages as a loan servicer.

I'd have to say based on what you tell us that the fit is there for a predatory mortgage servicer.

Be careful and create a paper trail.

You should be reporting them for their bookkeeping errors to the FTC.

Whenever they make any kind of mistake, error or deliberate action to get you on the books as late, and you have the proof your payment was not
late but rather mishandled and attributed incorrectly.

Write them a letter.

Type in your web browser HUD RESPA and find a sample of the QWR
Qualified written request.

Start there and read it all. 

Loan servicers typically make their money not from collecting your check
and posting it correctly, they make their money from the various fees they can collect so they are always on the hunt for a fee.  Sometimes it is just too outrageous for belief.

It sounds like it is early in the game for you, so be vigilent and make sure they don't slip in fees on you or cancel your hazard policy and buy one
so highly priced you may not be able to afford it.

You might want to make a folder for your loan information and correspondence to and from you and them.

Keep your cancelled checks in an envelope in your folder.

I've not heard of them before, so maybe they aren't the biggest or the worst but if they are playing around, you'd be wise to stay ahead of them.

Any questions?  Just post them and somebody around here should be able
to give you some direction or hints.


Don't let them get past a late fee if it is not proper.  That is the beginning
of the scam to get you into foreclosure and it goes very very fast.

It sounds like the same scam all the servicers are pulling on borrowers.

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A classic case of predatory servicing.  This is what happened to most of us.  File a complaint directly with the FTC.

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For some reason this name I think appears on either Litton Loan's client list or MGIC's, I think there is a link with them and MGIC, CBASS and Litton Loan, I will have to check that out and get back to you.

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Interesting to see your posting from 2007.  We have been paying Franklin Credit after we sold our home short in 2007.  We had to fight to get them to report us correctly to the credit bureau's (they reported us late, even though we were not late!).  Now they call every month for payment status AFTER our payment has cleared the bank.
As a result of the ongoing issues, we've filed a complaint with the FTC, BBB and our state's AG.  If we could, we'd take them to court.  If you still have an account with them, and have not done so, PLEASE file complaints with the appropriate agencies.  It may take awhile, but if enough people filed complaints, they would be forced to either engage in ethical business practices or sell out to someone else. 
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Although you have penned down the number of questions that should be asked to the loan officer, but it is practically not possible to remember each and everything while you are actually facing a loan officer. Hopefully, all these instructions will prove useful at the time of need and you may search online.

mortgage franklin
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Spend some money at the post office and send it just requesting proof of delivery-its worth the extra $4.00 because it shows the date they received it. even send it certified return receipt-this way someone has to sign it. the post office tracks everything electronically so you will have proof when they signed it and who signed for it the old fashioned way-and its a federal agency-i doubt that they will dispute the Post Office records!

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