Ocwen Financial Corporation, known to most Americans as either Ocwen Mortgage or Ocwen Mortgage Servicing, has plans to grow even larger. Ocwen is already the largest servicer of subprime mortgages. Here is the tie-in: Home Loan Servicing Solutions, a foreign investment firm designed to buy mortgage servicing rights from Ocwen Financial Corporation, is planning an initial public offering (IPO).
ML in Lousianna said this today: “Saxon has sent me a letter saying that I did qualify for a home loan modification and 6 weeks later sent a denial letter and approved the foreclosure process to go forward.”
ZH in Illinois said this: “Feeling helpless! How does SAXON get away with the illegal activity, lying, cheating, hurting so many people. If anyone knows of a class action law suit please count me in! Here is my mother’s and father’s story with Saxon Mortgage.
KK in Virginia said this in a recent complaint to Saxon – Ocwen Watch: “Saxon Mortgage is the worst mortgage company I have ever seen. It all started when I was recalled back to active duty in 2006. When I was placed back to the Reserve status, someone at Saxon Mortgage had stopped my automatic draft and I was lucky at that time to look at my bank statement as to why my mortgage wasn’t taken out.
VL in Hawaii sent this interesting insight into the Saxon Mortgage – Ocwen transition as it pertains to HAMP modifications and interest due. The report said: “It took almost one year from May 2009 for Saxon to work my Loan Modification under the HAMP.