We receive reader input almost every day. Last summer we wrote about mortgage lenders and servicers that call customers, often before the due date. Many of those lenders are gone, erased from the financial landscape altogether. Nobody will miss them. But it seems Saxon Mortgage has joined this group. Calling customers well before the payment is due, Saxon seems to anger their customers. This lender bears considerable scrutiny. Panic by Saxon does not constitute an emergency for the home owner.
Are finances that bad at Saxon? Doesn’t their statement tell the home owner the due date, or “pay this amount after this date?” Is cash flow so bad that Saxon must determine if they have jobs next week? Before NovaStar flamed out those idiots were calling customers on the fifth day of the month, just to ask if the customer intended to make a payment. Saxon seems to be almost the same. We will watch Saxon Mortgage carefully.
By the way their website says “Through people, passion, and performance, Saxon Mortgage strives to exceed your expectations by providing the quality of service you deserve!” Their phone calls do not provide the quality of service many people expect. On the contrary, Saxon Mortgage says one thing and implies another. Phone calls imply distrust, primarily because Saxon calls homeowners before the payment is due.
Please be advised that Saxon Mortgage is a debt collector. Maybe that explains their “quality of service you deserve?” The difference between NovaStar and Saxon Mortgage is that NovaStar asked customers if they intended to keep their home. Saxon is not that bad yet, but their actions suggest that they may be there soon. They are also a member of Hope Now, as if that means much. Hope Now members are foreclosing without rhyme or reason. (see example)