Loan Resources

Additional Services
Related Information



Credit Reports and Credit Management

FMFCU understands the value of good credit. That's why we're here to help you manage your credit and provide resources to make understanding your credit easier.


Credit Score Education Portal

Find out everything you need to know about your credit score including documents on understanding your FICO score, FAQs, and a comprehensive guide that explains to the top factors that affects your credit score.


Credit Counseling and Debt Management

Franklin Mint Federal Credit Union has partnered with Clarifi, formerly known as Consumer Credit Counseling Service of Delaware Valley (CCCS). Clarifi is a non-profit service organization dedicated to delivering professional credit education, confidential credit and housing counseling and debt management programs.

Clarifi is one of the area’s leading credit and debt management counseling agencies that has helped thousands of individuals and families gain control of their finances. More details >>

August 2013 - Philadelphia Replicates Success of New York City’s Financial Empowerment Centers - Clarifi and the City of Philadelphia Partner Together to Bring the Initiative Live - Read the announcement here.


Credit Reports

Perhaps you read or heard about a recent amendment to the Fair and Accurate Credit Transactions (FACT) Act. The Act obliges each of the three national credit reporting agencies aka credit bureaus to provide you with a free copy of your credit report once every year, at your request. By requesting copies of your credit report annually, you will be able to:
  • Manage your debt and qualify for the best rates and terms on loans and mortgages
  • Protect yourself against identity theft by keeping abreast of unauthorized changes to your credit record
  • Keep informed of your credit standing to understand lending opportunities and correct errors that can cause application rejections or high interest rates, if they exist.

For consumer convenience, the three credit bureaus – Equifax, Experian and TransUnion – have established one central service from which you can order your free credit report copy. There are several ways to access this service:

  • Online at www.annualcreditreport.com
  • By telephone at 1-877-322-8228 (toll-free), or
  • By mail -- complete an Annual Credit Report Request Form
    (obtainable online or by phone) forwarded to:
    Annual Credit Report Request Service
    P.O. Box 105281
    Atlanta, GA 30348-5281

THIS NOTICE IS REQUIRED BY LAW.  Read more at FTC.GOV.
You have the right to a free credit report at AnnualCreditReport.com or 877-322-8228, the ONLY authorized source under federal law.

Here are some helpful tips to consider when ordering your free report:

  • You are not obligated to accept offers for other credit services when ordering your report
  • You should request that only the last four digits of your Social Security Number be listed on your report for security purposes
  • You may want to consider spacing out your orders for free reports from the three different agencies as a better method for identifying potential identity theft
  • You will not get your credit score in the report


Loss Mitigation Options

Franklin Mint Federal Credit Union offers a variety of options for members who may be having difficulty making their loan payment to FMFCU. The following pertains only to Close End Dwelling Secured Loans. For options on any other type of loan please contact our Credit Solutions Department at 610-359-3997.

Our Loss Mitigation options are:

  • Extension
  • Forbearance
  • Loan Modification

We will consider the following options only if specifically requested and on a case by case basis.

  • Short Sale
  • Deed-in-lieu of Foreclosure

To be considered for a Loss Mitigation Option, a completed Loss Mitigation Application must be made. A Loss Mitigation Application will be considered complete if it contains the following:

  1. A written request that explains the circumstances of the inability to make the required payment. This writing must also include the members account number, name and address. Enclosed with the written request must be all of the required documentation listed below:
  2. Proof of hardship
  3. Budget work sheet
  4. Superior Mortgage statements, if applicable
  5. Most Recent Tax Return and a current Paystub

The completed application must be mailed to:

Franklin Mint Federal Credit Union
Loss Mitigation Department
1974 Sproul Road, Suite 300
Broomall, PA 19008

You may also receive help from the Federal or State Government Mortgage Assistance programs. You can use the information below to explore additional options that may be available to you.

Federal Government Mortgage Counseling
U.S. Department of Housing and Urban Development
451 7th Street S.W., Washington, DC 20410
Telephone: (202) 708-1112     TTY: (202) 708-1455
Find the address of the HUD office near you

Find a HUD-approved housing counselor
HUD sponsors housing counseling agencies throughout the country that can provide advice on buying a home, renting, defaults, foreclosures, and credit issues. This page allows you to select a list of agencies for each state.
Telephone: 1-800-569-4287

The Making Home Affordable Program  (MHA) ®
An official program of the Departments of the Treasury & Housing and Urban Development.
You can also call 1-888-995-HOPE (4673) to speak to an expert advisor immediately, 24 hours a day, 7 days a week, 365 days a year, in over 170 languages. They answer 98% of their calls within 30 seconds. This valuable, around-the-clock service is available completely free.

State Government Mortgage Counseling

Pennsylvania
Pennsylvania Housing Finance Agency
211 N Front St
Harrisburg, Pennsylvania 17101-1406
800.635.474

 

New Jersey
New Jersey Housing and Mortgage Finance Agency
637 South Clinton Avenue
Trenton, NJ 08611
1-800 NJ-HOUSE

Delaware
Delaware Emergency Mortgage Assistance Program (DEMAP)
18 The Green, Dover, Delaware 19901
(888) 363-8808

Maryland
Maryland HOPE
100 Community Place - Crownsville, MD 21032   
1-877-462-7555

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