Former Saxon Mortgage employee speaks out

We received some great insight today and share it with you. Our supporting material follows this:

If you have a mortgage where Saxon is the servicer. Refinance. Find any company that will take you but Saxon Mortgage. Take it from me. I worked in a call center for them. I was an inbound collections rep.

First of all, this past spring Saxon contracted Advanced Call Center Technologies(ACT) in Johnson City, TN and Harlingen, TX to take collections calls for them. And to help with this HAMP thing.

Let me tell you about ACT.

You do not have to have a high school education or GED to work there. Basically if you aren’t a recent felon you are hired. Then the trainers who trained after I went through (Saxon trained us) are more clueless than anyone about Saxon.

So, the information being passed down is minimal. But the most important thing for you to understand is that the people who work at ACT make $8.00 an hour. How much would you care about someone’s mortgage for $8.00 an hour?

Plus most of the people I worked with can’t even spell Saxon, much less say it without saying ‘Saxton’.

Now Saxon’s information chain is even worse.

Only one department can contact negotiators and only employees can contact that department.

As for missing documents, there is one fax number for ALL documents for loan mods, HAMP, short sales, etc. YOUR STUFF IS GOING TO GET SEPERATED.

Saxon Mortgage is a mess. I left because I noticed how unorganized Saxon is. And I would try so hard to go above an beyond for customers just to get shot down by Saxon’s quality for a call being too long or my supervisor’s or QA’s giving me low scores for being ‘too detailed’

I am sorry that you all have to endure this company. The Saxon people I met from Texas were good people who seemed to know what they were talking about. So, your best shot at help is to get someone at Ft. Worth on the phone.

They take care of employees down there from what I was told. Well, they at least pay them enough to care a little. Good luck all. I know you need it.

Do you need proof of this concept?

Here at Saxon Watch we do not judge people by their education. However, in the financial field, what are the qualifications to be a chairman, CEO, or president?

This was in the news last week. We look at the president following this quote:

Fort Worth-based Residential Credit Solutions, a mortgage servicing company, is the winning bidder in a new Federal Deposit Insurance Corp. program aimed at encouraging private purchases of toxic mortgage assets to get them off banks’ balance sheets.

Examine qualifications of Dennis Stowe, president and CEO of Residential Credit Solutions

“We formed the company for the distressed market,” and consequently RCS doesn’t have any of its own bad loans to deal with, said Dennis Stowe, president and CEO. “We’re built for it.”

Who is this person? You might be shocked.

Stowe, 49, was previously president of Saxon Capital. The Richland High School graduate and University of Texas at Arlington accounting major joined Saxon in 1994 as president and CEO of its affiliate Saxon Mortgage Services, a subprime mortgage lender acquired by Morgan Stanley in 2006.

High school graduate and accounting major? You can designate a major when you sign up for your first class. Most likely Stowe did not graduate from college, or the article would have said so.

If I were 50 years old I would not mention that I was a high school graduate. Also, those who take one college class and quit school thereafter, do so because they can check the block on an application that says “some college” as opposed to GED, dropout, or high school grad.

(The reference article is no longer available on the Star Telegram website.)

Is Dennis Stowe a figure head?

Why would a financial firm – one that receives government money – assumably function with a high school grad as president and CEO? One reason is simple. Without prerequsite courses such as Moral Values In Today’s Society, Business Ethics, Economics, etc., these people function without conscience. They can say “I didn’t know” — all the way to the bank.

Our contributor who once worked for Saxon is quite correct in calling this to your attention. Now you should call Residential Credit Solutions to the attention of your elected offcials. Ask about qualifications at the company.

One thought on “Former Saxon Mortgage employee speaks out

  1. first and most all qc gives low score not for taking long on call or giving too much info they give you low score for giving customer wrong information and not doing your job as a collector either try and take payment or offer alternative loan modification and they do have 1 fax# but it done by a machine who scan info in a system so dont think its done by person i am also a former saxon employee at fort worth i left saxon due to the fact i found a better paying job and yes there are some people who probably dont have a high school diploma but they do go threw a 3week training so regardless there giving the info that they were trained at and those who can say saxon right your mad due to the fact they get paid more than you i have to say that saxon might not be very organize at some things and that due to the fact that the investor government change there regulations

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