Saxon Mortgage Ocwen Transition and HAMP Agreements

VL in Hawaii sent this interesting insight into the Saxon Mortgage – Ocwen transition as it pertains to HAMP modifications and interest due. The report said: “It took almost one year from May 2009 for Saxon to work my Loan Modification under the HAMP. On February 2010, Saxon finally issued me the Modification Agreement for …

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 …

How Saxon Mortgage kept HAMP funds

HAMP was started in February 2009 by the Treasury Department and the Federal Housing Finance Agency after the foreclosure crisis. Under the plan, at least $75 billion was directed to participating mortgage-servicing companies to help financially distressed mortgage-holders modify their mortgages. Reuters reported that Saxon received a $634 million commitment of HAMP funds, of which …

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 …