HUD announced in 2010 a $413,500 civil penalty involving Franklin First Financial Ltd., together with indemnification concerning 31 mortgages. Read the original notice for the conduct and terms covered by that agreement.
Read the source: HUD archive · 2010 Franklin First settlement
What the figure represents
A civil penalty is not a pool of money promised to all customers. Indemnification concerns specified losses and conditions; it should not be added to the penalty as if it were an identical cash payment.
Continue: Franklin First Financial: Regulatory Settlement Timeline
Keep the legal scope
The notice concerns the named mortgage lender and FHA-related issues. It does not establish a claim against 1st Franklin Financial Corporation or a current consumer refund program. The Federal Register’s account also records reimbursement of fees to 78 borrowers and states that the settlement was made without admitting fault or liability. This historical term does not establish a new claims process today.
Place it in the timeline
This is a 2010 event. Later HUD, DOJ and NYDFS records have different dates, issues and outcomes. Use the timeline to avoid mixing them.
Frequently asked questions
Was this the 2017 DOJ settlement?
No. They are separate events.
Sources
Read the original documents and company pages behind this guide.
- HUD archive · 2010 Franklin First settlement archives.glb.hud.gov · reviewed October 16, 2026
- GovInfo · July 26, 2010 Federal Register (PDF) www.govinfo.gov · reviewed October 16, 2026
