Posts Tagged ‘Ocwen’
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.
CB in California said: “RE: SAXON MORTGAGE. In March ’09 i paid a company $3,000 to help me through the entanglement of Modification (which as i found out was a waste of money-you get no-where just as fast on your own) and over the next 4 months i went through the Saxon process of sending in documents to be told they did not get them and to resend..placing phone calls to be told to call back etc.
For weeks consumer advocates at watchdog organization listened to and read reports of how well Saxon Mortgage modified mortgages. Many of those reports were false or misleading.