ResCap was one of largest subprime mortgage originators

We are starting a segment that looks at where major subprime mortgage players are today. With many of them it is easy because they don’t exist any more. I know you’ve seen television, Internet, and newpaper ads for Ally Financial, which used to GMAC. Ally Financial’s mortgage subsidiaries include Residential Capital, LLC (ResCap) Here is …

Saxon Mortgage only modified 42 mortgages, dead last

For weeks consumer advocates at watchdog organization listened to and read reports of how well Saxon Mortgage modified mortgages. Many of those reports were false or misleading. Sources such as subprime blogs echoed glowing reports from news sources. Much of the data was wrong. Saxon Mortgage permanently modifed only 42 mortgages. That is correct — …

Saxon gets tax dollars for mortgage modifications

Maybe Saxon will start modifying home mortgages now that the company received some Obama money. Wednesday the first handful of companies received part of the $75 billion set aside to help struggling homeowners avoid foreclosure. Recipients of this first round of money are Chase Home Finance, Wells Fargo, GMAC Mortgage, CitiMortgage, and Saxon Mortgage Services …