Class Action Lawsuit against Saxon Mortgage Services

PHILADELPHIA, Sep 14, 2011 (BUSINESS WIRE) — The law firm of Berger & Montague, P.C. has filed a class action complaint in the United States District Court for the Eastern District of Michigan on behalf of all Michigan homeowners whose mortgage loans have been serviced by Saxon Mortgage Services, Inc. and/or Ocwen Loan Servicing, LLC …

Saxon Mortgage wrongfully forecloses on military personnel

WASHINGTON -(Dow Jones)- Subsidiaries of Bank of America Corp. (BAC) and Morgan Stanley (MS) will pay more than $22 million to settle charges that they wrongfully foreclosed on active-duty military members without first obtaining court orders, the Justice Department announced Thursday. In one settlement, BAC Home Loans Servicing, formerly known as Countrywide Home Loans Servicing, …

Saxon Mortgage sued over improper HAMP

A class action lawsuit has been filed in Federal Court in New York against Saxon Mortgage Services Inc., the Morgan Stanley mortgage servicer division, for failing to fulfill its obligations under the federally-sponsored Home Affordable Modification Program (HAMP) to homeowners in financial distress. The lawsuit is brought on behalf of plaintiffs Ranujoy and Deborah Pandit …

Morgan Stanley settles lawsuit in Massachusetts

Saxon Mortgage parent company Morgan Stanley agreed to pay millions of dollars to the state of Massachusetts to end an investigation into its role in loaning billions to a company that gave mortgages to unqualified borrowers. The financial services firm, which funded subprime loans throughout the country, agreed to give Massachusetts a settlement of $102 …