The Start of a New Chapter

We're pleased to announce as of August 1, 2018, Franklin American Mortgage Company is now part of Citizens Bank N.A., one of the nation's oldest and largest financial institution.

Franklin American Mortgage and Citizens Bank Are Better Together

We look forward to continuing to provide our customers and partners with the same unparalleled customer service that you expect as we move into this new chapter for our company. Joining Citizens Bank will allow us to further enhance our platforms with new products and services, while staying focused on serving our clients’ needs and delivering results.

As we are excited about this transition, we know you have a lot of questions. Below we laid out some of the most frequently asked questions to make this a better transition for you. You’ll notice there are a couple of different sections. Choose the drop down that best fits your current mortgage situation.

We're looking forward to our bright new future, and as always, we're thankful that you'll be a part of it!

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Customer/Borrower FAQs

  • I closed a loan with Franklin American Mortgage, does this acquisition have any impact on how I make payments on my loans?

    There are no immediate changes to how you pay your mortgage. You will continue to make your payments as you do today, by visiting the login page from our homepage or you can go directly to the homeowners login page.

  • I am currently in the process of applying for a mortgage with Franklin American Mortgage. How does this acquisition impact that? Should I seek another lender or work with Citizens Bank instead?

    We appreciate that you have chosen to work with Franklin American Mortgage for your mortgage and encourage you to continue to work with us. Franklin American Mortgage continues to originate mortgages for customers under the legal name Citizens Bank N.A. 

  • Who do I contact with questions on my loan?

    Please continue to contact our servicing department at 877-883-1073 or visit www.famchomeloan.com or www.franklinamerican.com. If you have a relationship with a loan officer, you may also continue to reach out to him/her.

  • When do you expect to communicate any changes to my loan or payment information as a result of this acquisition?

    The terms and conditions of your loan are governed by your note and mortgage and therefore will not change. Your mortgage payment will not change except for the periodic adjustments needed to pay tax and insurance obligations if the loan is escrowed. We will notify you, well in advance, if there is a change in the address or methods you currently use to make the mortgage payment. If you have any questions in the meantime, please contact our servicing department at 877-883-1073 or visit www.famchomeloan.com or www.franklinamerican.com.

  • Does my due date or grace period change due to this acquisition?

    The terms and conditions of the loan are not affected by the loan transfer. This includes the due date, grace period for payments, and any loan repayment options you have in place with us. Your mortgage is due on the first of the month (unless otherwise agreed upon) and does not incur late fees until the expiration of your grace period (15 calendar days after the due date for most loans). Your mortgage note details due date and grace period information.

  • I am currently in the process of loss mitigation with your Default team. Will the types of assistance being offered to me or the loan modification that I have in progress be changed as a result of this business transaction?

    No, nothing should change. You should look forward to receiving the same quality of service, and we will continue to work closely with you and the loan investor in offering financial alternatives to assist you during your time of hardship.

B2B Customer FAQs

  • Why did Franklin American Mortgage choose Citizens Bank as its acquisition partner?

    Franklin American Mortgage believes joining a well-established bank like Citizens Bank will provide the resources needed to continue to grow and evolve our collective capabilities and to better serve our customers. 

  • How will this acquisition impact my loan/business relationship with Franklin American Mortgage?

    The acquisition has no impact on your loan. Acquisitions and transfers of mortgage servicing are a common practice. The manner in which your loan is serviced is not changing at this time. We will notify you will in advance of any changes that may occur with your accounts

  • I have customers currently in the process of applying for a mortgage with Franklin American Mortgage. How does this acquisition impact this?

    We appreciate that you have chosen to work with Franklin American Mortgage for your mortgage and encourage you to continue to work with us. Franklin American Mortgage continues to originate mortgages for customers under the legal name Citizens Bank N.A.

  • What if I object to having my customers’ mortgages transferred to Citizens Bank as a result of this acquisition?

    We value your business and want you to feel comfortable with what changes will occur. The terms of your existing loans are not changing, and we are dedicated to making our integration with Citizens Bank as seamless as possible for our customers. We want to understand some of your concerns. Please reach out to your main point of contact at Franklin American Mortgage so we can try to address those for you.

  • Will my main point of contact change now that the acquisition is complete?

    There are no changes to your point of contact at this time. If that should change, we will notify you in advance of any changes.

  • When do you expect to communicate any changes to my loan or payment information as a result of this acquisition?

    We will be providing relevant updates continuously to customers and will be sure to clearly communicate any changes to your accounts in a timely manner. If you have any questions in the meantime, please feel free to reach out to your main point of contact with Franklin American Mortgage. 

About Citizens Bank

 
  • Where is Citizens Bank located?

    Citizens Bank, N.A. is headquartered in Providence, Rhode Island. In consumer banking, Citizens Bank offers approximately 3,300 ATMs and approximately 1,150 branches in 11 states in the New England, Mid-Atlantic, and Midwest regions. Citizens Bank originates mortgages in the 48 contiguous states and offers auto lending, student lending, and commercial banking services in select markets nationwide. In commercial banking, Citizens Bank offers corporate, institutional, and not-for-profit clients a full range of wholesale banking products and services including lending and deposits, capital markets, treasury services, foreign exchange and interest hedging, leasing and asset finance, specialty finance, and trade finance.

  • Is Citizens Bank a publicly traded company? Where can I find out more information about the company?

    Yes, its parent company, Citizens Financial Group, Inc. (CFG), trades on the New York Stock Exchange. You can learn more at http://investor.citizensbank.com/about-us.aspx