News Reports
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).
First my Saxon mortgage went away when the home sold, and now Saxon Mortgage might go away all together. Nobody will miss this unprofessional, unorganized, and poorly run unit of parent company Morgan Stanley. Here is the news report released on October 25th, 2011:
We knew Saxon Mortgage carried some bad loans, but they now belong to Ocwen. Soon Saxon Mortgage will be gone all together. Morgan Stanley is said to be closing the window for eligible bids on its mortgage servicer, Saxon Mortgage, according to sources familiar with the process.
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 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: