- Business
- Franklin Credit Management Corporation (FCRM) is a specialty consumer finance company that operates as a mortgage servicer focused on the resolution of performing, reperforming, and nonperforming residential mortgage loans; it provides specialized loan recovery, collection servicing, loss mitigation, foreclosure processing, judgment recovery, bankruptcy handling, and real estate owned (REO) management services. The company analyzes, prices, and acquires residential mortgage portfolios, including distressed second-lien and judgment portfolios, as well as small balance personal loans and accounts; its default servicing platform manages loans through all delinquency stages for clients nationwide. Franklin Credit Management Corporation serves homeowners facing payment difficulties, institutional investors, and financial institutions seeking niche servicing solutions in the United States, with over 30 years of experience handling more than 100,000 accounts totaling $5 billion in principal balance. Founded in 1990 and headquartered in Jersey City, New Jersey, the company emphasizes borrower partnerships through accessible assistance and customer-first strategies. In recent developments, the firm appointed Dr. Sean Hundtofte as CEO in August 2025, initiating a strategic reinvention with AI-driven credit risk models that reduced delinquency rates by 12% on newly acquired portfolios in Q2 2025; it also completed a $2.1 billion distressed mortgage portfolio acquisition at a 14% discount in Q3 2025, alongside protocol updates aligning with 2024 CFPB guidelines that boosted customer retention by 15% year-over-year.