Franklin Credit Holding Corporation (Franklin Holding), formerly Franklin Credit Management Corporation, is a specialty consumer finance company. On December 28, 2007, Franklin entered into a series of agreements (the Forbearance Agreements) with The Huntington National Bank. In November 2007, Franklin ceased to acquire or originate loans and, under the terms of the Forbearance Agreements. As a result of the Forbearance Agreements entered into, on December 28, 2007 with the bank, the Company’s principal business and operational activity, during the year ended December 31, 2008, is the servicing of its acquired and originated mortgage loans and real estate assets. On May 28, 2008, Franklin entered into various agreements (the Servicing Agreements) to service on a fee-paying basis approximately $245 million in residential home equity line of credit mortgage loans for Bosco Credit LLC (Bosco). The loans that are subject to the Servicing Agreements were acquired by Bosco on May 28, 2008.