What does FRNKAMRMTGCO mean on my credit report?
Learn about FRNKAMRMTGCO, an creditor offering loans for financial assistance. Check the impact to your credit report and financial status.
What is FRNKAMRMTGCO?
On August 1st, 2018, Franklin-American Mortgage Corporation merged into the Citizens’ Bank Family of Companies; while minor alterations to the letter of the law have been made, the essence of who we are remains unchanged.
FRNKAMRMTGCO is a
Creditor provider. They could be on your report for a number of reasons, for example:
⚫ You missed a repayment.
⚫ You opened an account with .
⚫ You opened a credit card / loan / mortgage with this company.
⚫ Someone fraudulently opened a credit line under your name.
About the account
⚫ The average high credit balance is $227700.
⚫ The typical loan duration is 360 months.
The account is classified under the following METRO2 categories:
- ⚫ Real estate
How do I contact them?
Here is the current contact details for :
To make a payment, you can talk to a Franklin American Mortgage Representative at 800-295-1020 or 800-234-6002. You can also contact 866-326-2677 ext 1985 to find a Correspondent Regional Account Manager. Homeowners can also make payments online or through the available mobile app. Payments can be made using a check or money order. There are penalties for late or missed payments.
|Do they offer a monthly payment plan?||No|
|Can I make payments over the phone?||No|
|Can I make payments online?||Yes|
|Can I make a payment using a mobile app?||Yes|
|Can I make a payment using a prepaid debit card?||Yes|
|Can I make a payment using a wire transfer?||Yes|
Forgiveness and Cancellation
There are three main ways to get student loan forgiveness: through public service, teaching, and certain loan repayment programs. You may also be able to get your loans forgiven if you become disabled or die.
|Do they offer loan consolidation?||No|
How to Apply
You can apply for a loan online, over the phone, or in person. Generally, you will need to provide some personal information and financial history. You may be able to apply with a cosigner.
|Can I apply for a loan online?||Yes|
|Can I apply for a loan over a phone call?||No|
|Can I apply for a loan in person?||Yes|
|Can I apply for a loan using a mobile app?||Yes|
|Can I apply for a loan with a cosigner?||Yes|
IdentityIQ Report Example
- This is an example of what this creditor will look like on your IdentityIQ report.
Will this affect my credit score?
Whether this account affects your credit score depends on a variety of factors, such as:
- Account Open Date: If you opened this account recently it will impact your credit, the only way to prevent this from impacting your credit score is to remove the account from your report.
- Derogatory Markings: If this account has any derogatory markings such as:
Lates, Charge Offs, Collections and others.
However, there are could be some potential positive aspects to this account which could lead to improving your credit score, such as:
- Account Age: If your account is quite old, then the age of it will positively impact your credit score
- Repayment History: If the account has no
Late Payments, Charge off Payments, then it may reflect a positive impact onto your credit score.
Can it be removed from my credit report?
Yes, with the right strategy, you will be able to remove any account from your report. But you have to be careful to ensure that the account is negative to begin with, or it will negatively impact your credit score.
However, removing a negative account will positively impact your credit score, allowing you to open new credit lines and potentially removing bad debt.
How do I remove FRNKAMRMTGCO from my credit report?
You can send a dispute letter to the credit bureaus to remove this account from your report. You must send a dispute letter to all three credit bureaus, as they are legally required to remove the account from your report if it is found to be inaccurate. For best results you should send a dispute letter to the credit bureaus via certified mail, this will ensure that you have a legal record of the communication.