Franklin Synergy Bank received Fannie Mae seller/servicer approval, parent company Franklin Financial Network announced Tuesday, Sept. 11.
This distinction allows the Franklin Synergy to retain mortgage servicing rights, realize pricing advantages and expand product offerings, as well as to sell and pool loans into mortgage-backed securities.
Fannie Mae's technology solutions for seller/servicers also make the loan process more efficient by making it faster and less complicated.
"While the bank is already a current Freddie Mac seller/servicer, the Fannie Mae approval strengthens our commitment to the community as one of the top providers of mortgages in Middle Tennessee," said Richard Herrington, president and CEO. "We are excited to be working with Fannie Mae and to offer our customers the opportunity for more-competitive products and pricing."
Franklin Financial Network, Inc. is a financial holding company headquartered in Franklin, Tennessee. The company's wholly-owned bank subsidiary, Franklin Synergy Bank, a Tennessee-chartered commercial bank founded in November 2007 and a member of the Federal Reserve System, provides a full range of banking and related financial services with a focus on service to small businesses, corporate entities, local governments and individuals.
With consolidated total assets of $4.17 billion at June 30, 2018, the Bank currently operates through 14 branches and one loan production office in the growing Williamson, Rutherford and Davidson counties, all within the Nashville metropolitan statistical area.
Additional information about the Company, which is included in the NYSE Financial-100 Index, the FTSE Russell 2000 Index and the S&P SmallCap 600 Index, is available at www.FranklinSynergyBank.com.