This is just one of our articles referencing Saxon Mortgage complaints about mortgages, HAMP modifications, foreclosures, service, and more:

Missouri Attorney General Jay Nixon is suing several mortgage companies as part of Operation Stealing Home. The information was announced on July 28, 2008.

The companies promised homeowners – and in one instance, small businesses – that their loans for re-financing would feature terms they could afford. The consumers often were facing skyrocketing house payments because of their adjustable rate mortgages, and wanted to obtain more favorable loans.

What the homeowners often discovered, however, was that the actual terms were far different – and much less favorable to the consumers – than what the mortgage companies had promised. Some homeowners found that they were charged much higher fees at closing than what had been promised. In another case, the company failed to credit loan payments from consumers in a timely fashion and then charged late fee and filed credit reports indicating the consumer was delinquent with payments. Another defendant charged advance fees of as much as $30,000 for loans that were never obtained.

Again, Nixon said, many consumers who had been experiencing financial difficulties before they did business with these companies found themselves worse off after their dealings with the defendants.

Nixon is suing the following mortgage brokers:

Christopher E. Cosma, of St. Peters, and three companies for which he was an agent — America One Finance Inc., of Bellevue, Wash., Accredited Home Lenders, of San Diego, and Castle Point Mortgage Inc., of Elkridge, Md. The lawsuit was filed in St. Charles County;
Fouquet Financial Services Inc., located in St. Joseph, and its president, Joseph M. Fouquet. The lawsuit was filed in Buchanan County; and Saxon Mortgage Services, of Austin, Texas.

The lawsuit was filed in Jackson County.

Nixon is asking the courts to void the deeds the companies illegally obtained; to award restitution to consumers who suffered losses; to impose appropriate penalties; and to issue injunctions to prohibit the defendants from future violations of Missouri consumer protection laws.