Info

Franklin Credit Management Corporation (FCMC) is a specialty consumer finance company engaged in acquiring and originating loans secured by 1-4 family residential real estate that generally fell outside the underwriting standards of Federal National Mortgage Association (Fannie Mae) and Federal Home Loan Mortgage Corporation (Freddie Mac) and involved elevated credit risk as a result of the nature or absence of income documentation, limited credit histories, higher levels of consumer debt or past credit difficulties. The Company was previously engaged in the acquisition, servicing and resolution of performing, reperforming and nonperforming residential mortgage loans and real estate assets, and the origination of sub prime mortgage loans, both for the portfolio and for sale into the secondary market. The products of the Company are Liberty Loans, Platinum and Gold Loans.(Source: 10-K)