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 …

New York State Banking Dept Visits Saxon Watch

We were pleased to see the New York State Banking Department on our Saxon Mortgage website this morning, relative to HAMP modifications. After monitoring complaints for over a year I can clearly say Saxon Mortgage performs poorly relative to HAMP modifications. At issue is how much money Saxon Mortgage receives from the federal government contrasted …

Lender Watch Network Center

LenderWatch.org is the network center for six of our financial areas. As consumer advocates we monitor the mortgage industry, credit card industry, personal finance, and document customer experiences. Our areas of expertise include daily monitoring of Saxon Mortgage and parent company Morgan Stanley, and daily monitoring of HSBC Bank Plc. Relative to HSBC we carefully …

Morgan Stanley allows no mortgage modification

CR in Georgia said: “I have been working with my lender for well over a year trying to get my mortgage modified. Due to a serious illness, I have been unable to pay my mortgage. I sent in all required and asked for information in hopes of getting my loan modified. I kept getting turned …

NY attorney general investigating eight banks

The New York attorney general has begun an investigation into eight banks to determine whether they provided misleading information to agencies that rate mortgage securities, The New York Times reported on Thursday. New York Attorney General Andrew Cuomo’s office issued subpoenas late on Wednesday notifying the banks of his investigation, the Times reported on its …