Recent Articles
PHILADELPHIA, Sep 14, 2011 (BUSINESS WIRE) — The law firm of Berger & Montague, P.C. has filed a class action complaint in the United States District Court for the Eastern District of Michigan on behalf of all Michigan homeowners whose mortgage loans have been serviced by Saxon Mortgage Services, Inc. and/or Ocwen Loan Servicing, LLC (collectively “Defendants”), and who, since April 13, 2009, (1) have entered into a Trial Period Plan (“TPP”) contract with Defendants and made all payments as required by their TPP contract and complied with Defendants’ requests for documentation, and (2) have not received or have been denied a permanent Home Affordable Modification Agreement that complied with the U.S. Department of the Treasury’s Home Affordable Modification Program (“HAMP”) rules.
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.
WASHINGTON -(Dow Jones)- Subsidiaries of Bank of America Corp. (BAC) and Morgan Stanley (MS) will pay more than $22 million to settle charges that they wrongfully foreclosed on active-duty military members without first obtaining court orders, the Justice Department announced Thursday.
HAMP was started in February 2009 by the Treasury Department and the Federal Housing Finance Agency after the foreclosure crisis. Under the plan, at least $75 billion was directed to participating mortgage-servicing companies to help financially distressed mortgage-holders modify their mortgages.