I have a mortgage with First Franklin and I send extra money to apply to my principal every month, either $126 or $626. On the statement coupon provided it asks how to apply my payment. I complete the coupon and even put it on my check. Every month they fail to post the extra money toward my principal and they put it inot an account called "Unapplied Funds" so I continue to pay more interest on my principal. I also have had a recent payment reported as late when I have their signature as being received on September 1st from the USPO and the payment is due on the 8th. When I called they could not locate the payment and finally located and posted it to my account on September 15th, even after I was told by a manager that they would apply the payment on the first since I had the signature.

I am looking for others that are having issues with funds not being applied to the principal or that payments are not being credited to the account in a timely fashion. Please post a reply if you are having this issue as I am investigating potential further action on this situation.