Loancare Mortgage Servicing Professionalism Is Questioned

I was informed by RoundPoint Mortgage Servicing that my mortgage has been transferred to Loancare LLC, a Servicelink company. RoundPoint is very professional. Roundpoint also informed me that my mortgage payment would decrease due to an escrow overage and escrow analysis. Loancare says they never got the memo. Loancare further stated that my mortgage payment …

Second Tier Investment Scams and The Elderly :: Financial Scams

Second Tier Investment Scams and The Elderly In an article from New Zealand we learned that an investment firm was advising elderly borrowers to re-mortgage their homes and invest in second-tier finance companies. The firm has denied claims it put money in Beneficial Finance and Five Star Consumer Finance, both now in receivership. This scam …

Selling Morgan Stanleys Saxon Mortgage Services

There is a possibility that Saxon Mortgage Services could be gone all together. Personally I just want Saxon out of my life and will sell the home they service. A sale of the mortgage unit, which Morgan Stanley acquired in 2006 during the height of the housing bust, kicked off in the past several weeks. …

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 …

Federal Probe of Mortgage Lenders Goes Nowhere

CHICAGO (Reuters) – Federal criminal investigations into failed mortgage lenders IndyMac Bancorp and New Century Financial Corp have stalled, the Wall Street Journal reported on Saturday. A third probe, into Washington Mutual Inc (WaMu), has ended with no charges being filed, the Department of Justice said. Both the IndyMac and Century Financial investigations were essentially …