Contacts
- Primary Contact: Bennett (Edward) Bean | Regional Sales Associate | [email protected] | O:866-326-2677 Ext. 4705
- Contact: Cathy Freeman | Dallas Office | Regional Account Manager | [email protected] | C: 281-610-3814 O: 866-326-2677 x2010
- Franklin American Site Login Link
Franklin American's Recent/ 2021 Updates
Important Links and Documents:
Franklin's EPO Policy - Any payoff 180 days or less from the purchase date is an EPO with full recapture of the SRP and premium.
Franklin American Comprehensive Fees Sheet
Franklin American Fees: Conventional: $600 | Government: $725
SRP's: Texas Conventional 30 Year- 1.388 | Government 30 Year- .913
MO: Conventional 30 Year - 1.218 | Government 30 Year - .842
KS: Conventional 30 Year - 1.285 | Government 30 Year - .839
Our recast policy is as follows:
- Minimum Principal Curtailment of $5000
- Request must be in writing (investor requirement) – borrower sends letter to:
Citizens One Home Loans | Special Loans – Recasts | P.O. Box 6260 | Glen Allen, VA 23059
(Can fax written request to 888-999-4158 if Citizens Servicing is in receipt of the principal curtailment and recast fee)
- Borrower recast fee is $150
- Government loans (i.e., FHA, VA, GNMA) loans cannot be recast
- Minimum 2 month waiting period for payment change (investor requirement cannot be waived) The Principal & Interest payment will change on the Due Date of the 2nd month following the paydown. (this is not always 2 full months)
- Borrower must sign a loan modification agreement
- The above is subject to change without notice if new loan investor regulations are issued
The borrower may recast multiple times provided that the above guidelines are followed, and fees paid.
I would also like to bring attention to our EPO policy just to make sure you are aware of the timeline. See below:
Delegated Vs. Non-Delegated Option with Franklin American
We cannot have Delegated Authority and Non-Delegated Authority
