MORTGAGE MELTDOWN

FRANKLIN MANAGEMENT CREDIT CORPORATION may have to change their current slogan “loan acquisition specialists” perhaps to “specialists in un acquired loans.” They have officially gone into our expanding database of closed lenders. Well, technically they are not yet closed, but neither are any new loans under this company. They have announced that they have suspended all new loan applications. The company successfully sold over $282 million dollars worth of loans to the Marshall and Ilsley Corporation, however, both firms will be monitoring the credit crunch carefully as the have expectedly dissolved their business relationship.