Exhibit 10.69
  PLEDGE, ASSIGNMENT AND Security Agreement Agreement FRANKLIN CREDIT MANAGEMENT CORPORATION, Borrower , Grantor Grantors Lender
 W i t n e s s e t h:
 Whereas Security Agreement
 Whereas
 Now, Therefore
 Section 1. Defined Terms
  Section 2. Grant of Security Interest in Collateral
 Collateral
 Schedule I
  Section 3. Security Agreement
  [Signature Pages Follow]
 A6- 1




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In witness whereof
 FRANKLIN CREDIT MANAGEMENT 
CORPORATION,as Borrower and GrantorBy:
    /s/ Alexander Gordon JardinName:
    Alexander Gordon JardinEach Grantor listed on Schedule A attached 
hereto:By:
    /s/ Alexander Gordon JardinName: Alexander Gordon Jardin Title: CEO, as an authorized office of and
on behalf of each Grantor Listed onSchedule A attached hereto
 Accepted and Agreed
 THE HUNTINGTON NATIONAL BANK
 By:
    
    /s/ Alan D. SeitzName: Alan D. SeitzTitle: Senior Vice President




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Acknowledgement of Grantors
 State of New Jersey
    
    ))     ss.County of hudson
    
    )
 13th Alexander Gordon
Jardin
 Donna M. Bonfiglio
 State of New jersey
    
    ))     ss.County of hudson
    
    )
 Alexander Gordon Jardin
 Donna M. Bonfiglio




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Schedule A




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Schedule I
 to
 Agreement
 Proceedings, Choses in Action and Commercial Tort Claims
 1.
    
    All claims arising out of all loan purchase agreements between Franklin Credit
Management Corporation (FCMC) and WMC Mortgage, LLC (WMC), successor to WMC
Mortgage Corp., including, without limitation, (1) that certain loan purchase agreement
between FCMC and WMC, dated as of September 29, 2006 and (2) that certain loan purchase
agreement between FCMC and WMC, dated as of November 30, 2006.2.
    
    All claims arising out of all loan purchase agreements between Franklin Credit
Management Corporation (FCMC) and WMC Mortgage, LLC (WMC) including, without
limitation, (1) that certain loan purchase agreement between FCMC and WMC, dated as of
May 25, 2006, (2) that certain loan purchase agreement between FCMC and WMC, dated as
of September 29, 2006, and (3) that certain loan purchase agreement between FCMC and
WMC, dated as of November 30, 2006.3.
    
    All claims arising out of all loan purchase agreements between Franklin Credit
Management Corporation (FCMC), Decision One Mortgage Company, LLC (Decision One),
and HSBC Finance Corporation including, without limitation, (1) that certain loan
purchase agreement between FCMC and Decision One, dated as of June 23, 2006, (2) that
certain loan purchase agreement between FCMC and Decision One, dated as of August 29,
2006, (3) that certain loan purchase agreement between FCMC and Decision One, dated as
of September 27, 2006, (4) that certain loan purchase agreement between FCMC and
Decision One, dated as of January 26, 2007, and (5) that certain loan purchase
agreement between FCMC and Decision One, dated as of February 26, 2007.4.
    
    All claims arising out of all loan purchase agreements between Franklin Credit
Management Corporation (FCMC) and Pine State Mortgage Corporation (Pine State)
including, without limitation, (1) that certain loan purchase agreement between FCMC
and Pine State, dated as of February 12, 2007, (2) that certain loan purchase agreement
between FCMC and Pine State, dated as of February 28, 2007, (3) that certain loan
purchase agreement between FCMC and Pine State, dated as of March 30, 2007, (4) that
certain loan purchase agreement between FCMC and Pine State, dated as of April 19,
2007, and (5) that certain loan purchase agreement between FCMC and Pine State, dated
as of May 15, 2007.5.
    
    All claims arising out of all loan purchase agreements between Franklin Credit
Management Corporation (FCMC) and Metrocities Mortgage, LLC (Metro) including,
without limitation, that certain loan purchase agreement between FCMC and Metro, dated
as of June 18, 2007.6.
    
    All claims arising out of all loan purchase agreements between Franklin Credit
Management Corporation (FCMC) and First Residential Mortgage Services Corporation
(First Residential) including, without limitation, that certain loan purchase
agreement between FCMC and First Residential, dated as of February 22, 2007.