Treasury Grants Another $4.7bn to HAMP Servicers including Saxon

There is something wrong with Saxon Mortgage modification numbers. One customer reported that she inquired about a modification but did not elect to participate. Paperwork from Saxon Mortgage showed her in a modification program anyway.

It was not true. There was no mortgage modification.

So why are we reading this in the news today? —

The US Treasury Department made another round of adjustments the total capped incentives to servicers participating in the Home Affordable Modification Program (HAMP). Treasury granted a total $4.7bn of incentive funds from the previously downwardly adjusted cap amount.

Saxon Mortgage, “the top performer in HAMP with trial modifications” started on 39% of its eligible portfolio received a $254m boost, raising its total capped figure to $886m.

2 thoughts on “Treasury Grants Another $4.7bn to HAMP Servicers including Saxon

  1. Seriously…. Are you kidding me?

    “At any time, Saxon REO has homes for sale in neighborhoods across America, including Single Family, Condominiums, Townhomes, as well as Multi-family properties.”

    “Homebuyers: Below you will find a link to REOTrans, where all of Saxon’s REO can be found. Whether you’re looking for a home to occupy or an investment opportunity, simply register as a new user and you can begin your search. ”

    Looks to me like they are restructuring. What are they doing? Trying to start a new branch called Saxon Home Sales.

  2. Let’s top it all off with the fact that they have change their hours of operations. The website says 8 am to 10 pm… the number says Monday through Friday 8 am to 5 pm.

    Maybe this is why the modifications have not been completed. Let’s hire more people and shorten the work day.

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