New suit alleges deceptive foreclosure practices

SPRINGFIELD, Mass. (WWLP) – This week, Massachusetts slapped a huge lawsuit on five major U.S. banks. The lawsuit claims the banks’ shady practices have contributed to people illegally being removed from their home. State Attorney General Martha Coakley says she is not going to wait any longer to hold banks accountable for allegedly deceptive foreclosure …

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 …

Saxon Mortgage ideas on HAMP are questionable

ON in Massachusetts said: “On Feburary 12th, 2010, I received a letter from Saxon Mortgage stating I was approved for the HAMP loan modificiation program. My wife and I were so excited. We couldn’t believe we’d made it through the trail period between Sept.-Nov., 2009. We had a little problem with health issues in Dec., …