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 …

Saxon Mortgage parent Morgan Stanley gives 150 Pct raise

Saxon Mortgage parent Morgan Stanley has seen fit to give the company chairman a 150 percent pay raise. Meanwhile Saxon Mortgage can’t even endorse and return my insurance check in a timely manner. Here is why they think Mack is worth the money: NEW YORK, May 28 (Reuters) – Morgan Stanley (MS.N) Chairman John Mack, …

Deutsche Bank subprime trader leaves Deutsche Bank

Deutsche Bank is the investor for many of Saxon Mortgage’s loans. It has been said that Deutsche Bank does not allow modifications. With that in mind, here is an article about Deutsche Bank and subprime profits: NEW YORK, April 21 (Reuters) – Deutsche Bank (DBKGn.DE) has named the head of its European asset-backed securities trading …