Saxon Mortgage parent Morgan Stanley gives 150 Pct raise

Saxon Mortgage parent Morgan Stanley has seen fit to give the company chairman a 150 percent pay raise. Meanwhile Saxon Mortgage can’t even endorse and return my insurance check in a timely manner. Here is why they think Mack is worth the money: NEW YORK, May 28 (Reuters) – Morgan Stanley (MS.N) Chairman John Mack, …

Geithner vows crackdown on mortgage servicers

Does this apply to Saxon Mortgage? Time will tell. Treasury Secretary Timothy Geithner on Thursday slammed mortgage service companies for failing to do enough to help Americans avoid losing their homes and promised to crack down on shoddy practices. “We do not believe servicers are doing enough to help homeowners — not doing enough to …

Deutsche Bank subprime trader leaves Deutsche Bank

Deutsche Bank is the investor for many of Saxon Mortgage’s loans. It has been said that Deutsche Bank does not allow modifications. With that in mind, here is an article about Deutsche Bank and subprime profits: NEW YORK, April 21 (Reuters) – Deutsche Bank (DBKGn.DE) has named the head of its European asset-backed securities trading …

Morgan Stanley profits jump, Saxon Mortgage not mentioned

Morgan Stanley, parent company of Saxon Mortgage, said Wednesday its first-quarter profit surged to $1.41 billion on strong results from its trading operations. The investment bank easily topped analysts’ expectations. Saxon Mortgage was not mentioned in news reports, nor discussed at all. Morgan Stanley said its earnings, which compare with a loss of $578 million …

NovaStar Financial’s liabilities exceed assets by $1.1B in 2009

Kansas City-based Novastar Financial, is not doing very well. Some Novastar loans were transferred to or are serviced by Saxon Mortgage. A growing number of its assets were pushed into foreclosure in 2009. As of Dec. 31, about 16 percent of NovaStar’s loans held in portfolio were more than 90 days past due, and about …