Exhibit 99.1
For Immediate Release
Contact: Paul Colasono, CFO
Franklin Credit Management Corporation
(201) 604-4402
pcolasono@franklincredit.com
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FRANKLIN CREDIT MANAGEMENT CORPORATION
SCHEDULES THIRD QUARTER EARNINGS CONFERENCE CALL
FOR WEDNESDAY, NOVEMBER 9, 2005
NEW YORK, October 31, 2005 -- Franklin Credit Management Corporation (Nasdaq:
FCMC - News; the "Company") announced today that executives will host an
investor conference call to discuss operating results for the third quarter and
nine months ended September 30, 2005. The Company plans to report its third
quarter operating results on Wednesday morning, November 9, 2005 and will host
an investor conference call at 11:00 a.m. Eastern time the same day.
Shareholders and other interested parties may participate in the conference call
by dialing 800-370-0898 (international/local participants dial 973-409-9260) and
referencing the conference ID 6657445, a few minutes before 11:00 am EST on
November 9, 2005. The call will also be broadcast live on the Internet at
http://phx.corporate-ir.net/playerlink.zhtml?c=61793&s=wm&e=1155158. A replay of
the call will be available through November 16, 2005 by dialing 877-519-4471
(international callers dial 973-341-3080), and the replay Access Code is
6657445. The call will also be archived on the Internet through February 15,
2006 at http://phx.corporate-ir.net/playerlink.zhtml?c=61793&s=wm&e=1155158.
Franklin Credit Management Corporation ("Franklin") is a specialty consumer
finance company primarily engaged in two related lines of business -- the
acquisition, servicing and resolution of performing, reperforming and
nonperforming residential mortgage loans; and the origination of non-prime
mortgage loans for the company's portfolio and for sale into the secondary
market. Franklin focuses on acquiring and originating loans secured by 1-4
family residential real estate that generally fall outside the underwriting
standards of Fannie Mae and Freddie Mac and involve elevated credit risk as a
result of the nature or absence of income documentation, limited credit
histories, higher levels of consumer debt or past credit difficulties. The
company typically purchases loan portfolios at a discount to the unpaid
principal balance and originates loans with interest rates and fees calculated
to provide a rate of return adjusted to reflect the elevated credit risk
inherent in these types of loans. Franklin originates non-prime loans through
its wholly-owned subsidiary, Tribeca Lending Corp. and generally holds for
investment the loans acquired and a significant portion of the loans originated.
The company's executive offices are headquartered in New York City and its new
administrative/operations office is located in Jersey City, New Jersey.
Additional information on the company is available on the Internet at
www.franklincredit.com. Franklin's common stock is listed on the NASDAQ National
Market under the symbol "FCMC".