Saxon Mortgage Service, a division of Morgan Stanley (MS), is hiring up to 30 loan-modification representatives to help assist an increasing number of borrowers looking to modify loan requirements, according to people familiar with the business. Saxon has already hired 30 professionals since the beginning of the year.
Home owners have accused Morgan Stanley and Saxon Mortgage of finding more ways to say “No” to customers. Others say a total of sixty people will not be enough to handle to volume expected to overwhelm Saxon.
Saxon is hiring representatives to keep up with the “explosion” in demand to help borrowers modify terms on their loans, said a source.
Morgan Stanley acquired Saxon, based in Irving, Texas, in 2006 for $706 million.
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