DR. SEAN HUNDTOFTE JOINS FRANKLIN CREDIT MANAGEMENT CORPORATION AS CHIEF EXECUTIVE OFFICER

JERSEY CITY, N.J., Aug. 21, 2025 /PRNewswire/ -- Franklin Credit Management Corporation (OTC Markets: FCRM), a New Jersey-based specialty mortgage and loan servicer, announced that it has reached an understanding with Dr. Sean Hundtofte to serve as the company's Chief Executive Officer and as a member of the company's board of directors. Dr. Hundtofte, a former Financial Economist at the Federal Reserve Bank of New York, previously held executive roles at Better.com, where he served as Chief Economist, Head of Credit Risk, and Head of Acquisitions.

Franklin Credit's Chairman and largest shareholder, Thomas Axon, praised the board of directors' decision to appoint Dr. Hundtofte as the company's CEO. "Sean's leadership, expertise and experience in the financial markets and credit risk management are second to none" remarked Mr. Axon in making the announcement. "Moreover," Mr. Axon continued, "his background at the Federal Reserve Bank of New York and his experience at Better.com are expected to provide valuable insights as the company continues to address the challenges and opportunities within the specialty finance sector." Mr. Axon noted that "Dr. Hundtofte's appointment as CEO is a renewal of the Company's mission and a significant step forward in our commitment to delivering maximum value to our clients while fostering a professional relationship with borrowers based on courtesy and integrity."

In addition to serving as Franklin Credit's CEO, Dr. Hundtofte will also continue to serve as the CEO of Solve Finance, a company he established in 2021. Solve Finance is dedicated to helping individuals manage their debt and improve their credit through innovative technology and financial guidance. Dr. Hundtofte's leadership at Solve Finance demonstrates a commitment to leveraging technology and financial expertise to empower consumers and foster financial well-being. This background in both traditional finance and fintech positions gives Dr. Hundtofte a unique perspective of Franklin Credit's strategic initiatives.

Dr. Hundtofte holds a Ph.D. in Financial Economics from Yale University, an MSE in Computer Science from Johns Hopkins University, and received his undergraduate degree in Computing Science from the University of Glasgow.

About Franklin Credit Management Corporation

Franklin Credit Management Corporation is a specialty consumer finance company that focuses on servicing and resolving residential mortgage loans. Their services include loan recovery, collection servicing, and analyzing and acquiring mortgage portfolios. The company was established in 1988, is based in Jersey City, New Jersey, and is traded on the OTC Markets; The  Pink Limited Market under the ticker FCRM.

Note: This press release is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities. Investors are encouraged to conduct their own due diligence before making any investment decisions.

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SOURCE Franklin Credit Management Corporation