Saxon Mortgage would rather foreclose and collect loan insurance

Phil, no location given, said: “I’ve been making modification payments to Saxon Mortgage for a year now. First I was told they were missing documents but they couldn’t tell me what docs were missing. Then they told me I missed a payment and that I’d be removed from the HAMP program and eventually I received …

OCC fought state authority to protect lenders

Arthur Wilmarth, law professor at George Washington University, believes the OCC, along with the Office of Thrift Supervision, had a lot to do with why subprime loans became as big a problem as it did, by taking the power to supervise banks away from the states. Lisa Madigan, the attorney general of Illinois, said in …