Franklin Credit Management Corp. announced that Joseph Prat re-joined the company's management team as vice president of default servicing, effective Feb. 8. In his new position, Prat will have the responsibility of the default operations of the company's servicing and recovery departments, including investor reporting. Prat has served as a senior data architect at Fortress Investment Group for the past three years. He previously served at Franklin Credit Management from 2002 to 2007 as vice president of the management information system and information technology department.

Franklin Credit Holding Corp. has appointed Jimmy Yan as its new executive vice president and managing director of its servicing and asset recovery operations. Yan was most recently with Deutsche Bank Securities as vice president, a position he held for over four years.

On October 15, 2009, Franklin Credit Holding Corp. and Franklin Credit Management Corporation and Tribeca Lending Corp. entered into a Separation Agreement and General Release with William F. Sullivan, pursuant to which Mr. Sullivan, effective October 15, 2009, resigned from all positions as an officer or director of the company and its subsidiaries and affiliates, including his positions as Chief Operating Officer and Director of the company and FCMC.