Another Mortgage Servicer Files for Bankruptcy, Franklin Credit
In the latest news, on the heals of GMAC Mortgage/Ally Financial/ResCap filing for bankruptcy just a few weeks ago, another major mortgage servicer filed this week, Franklin Credit. The saying "karma is a bitch" comes to mind. However, unfortunately, those responsible for these failures and the failures of our economy and system of competent regulation of fraud and greed run amok within our financial institutions have not been brought to justice. For a complete list of all the FDIC banks that have failed, click here and for lenders, here.