Treasury Grants Another $4.7bn to HAMP Servicers including Saxon

There is something wrong with Saxon Mortgage modification numbers. One customer reported that she inquired about a modification but did not elect to participate. Paperwork from Saxon Mortgage showed her in a modification program anyway.

It was not true. There was no mortgage modification.

So why are we reading this in the news today? —

The US Treasury Department made another round of adjustments the total capped incentives to servicers participating in the Home Affordable Modification Program (HAMP). Treasury granted a total $4.7bn of incentive funds from the previously downwardly adjusted cap amount.

Saxon Mortgage, “the top performer in HAMP with trial modifications” started on 39% of its eligible portfolio received a $254m boost, raising its total capped figure to $886m.

2 thoughts on “Treasury Grants Another $4.7bn to HAMP Servicers including Saxon

  1. Seriously…. Are you kidding me?
    https://www.saxonmortgage.com/common/reo/

    “At any time, Saxon REO has homes for sale in neighborhoods across America, including Single Family, Condominiums, Townhomes, as well as Multi-family properties.”

    “Homebuyers: Below you will find a link to REOTrans, where all of Saxon’s REO can be found. Whether you’re looking for a home to occupy or an investment opportunity, simply register as a new user and you can begin your search. ”

    Looks to me like they are restructuring. What are they doing? Trying to start a new branch called Saxon Home Sales.

  2. Let’s top it all off with the fact that they have change their hours of operations. The website says 8 am to 10 pm… the number says Monday through Friday 8 am to 5 pm.

    Maybe this is why the modifications have not been completed. Let’s hire more people and shorten the work day.

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