Saxon Mortgage parent company Morgan Stanley has been sued over risky collateralized debts. The lawsuit filed Dec. 24 in Manhattan federal court said Morgan Stanley collaborated with credit rating agencies Moody’s Investors Service and Standard & Poor’s to obtain “triple-A” ratings for notes marketed in 2007 as part of a collateralized debt obligation (CDO) known as Libertas.
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EH in Michigan said: “I am an insurance repair contractor in MI. My company did repairs on a home with a Saxon mortgage. The insurance company, as required, sent a check with the homeowners name, my company’s name and Saxon on the check. Saxon required us to send the endorsed to check to them, and claimed they would release the funds after inspection.
Category: Lawsuits
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A custoemr asks: “Is it possible to be considered for addition to the class action lawsuit list? After reviewing the postings about Saxon Mortgage, much of what everyone has endured sounds exactly like what we have been through.
Category: Lawsuits
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DK in Connecticut said: “CT attorney general has been notified about SAXON. I hope to sue. Anybody else in CT wants to sue Saxon Mortgage can call CT A.G and give info so we can make these greedy scumbags get real and provide some kind of service that they claim to provide. This is fraud, Saxon is a fraud!
Category: Lawsuits
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According to the New Mexico Attorney General, lenders ignored numerous red flags in working with a 78-year-old Chimayó woman who clearly couldn’t afford her mortgage. The woman had filed a complaint with the AG’s office alleging her signature was forged and other information on the mortgage application falsified.
Category: Lawsuits
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SW in Texas said: “This is to share information about problems I had with Saxon Mortgage. I did a loan modification with Saxon that would freeze my ARM payment for 5 years. They sent out letters stating that I qualified for the program and it would be of no cost to me out of pocket.
Category: Lawsuits
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TB said: “Yes, Saxon is currently being sued through an attorney’s office out of Pennsylvania. They are moving pretty quick about it too. All researched and proved to be legit. Also recommend keeping copies of the timeline and any correspondences with the company. (dates, times, names, etc) I’ve been keeping records since November. Just after receiving our Act 91, THEN our loan mod proposal two days later. Forward it all to your states attorney general.”
Category: Lawsuits
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The Service Members Relief Act [SCRA] is designed to prevent a person in active service to this country from being sued while on duty. Servicemen and women should not return home from Iraq or Afghanistan to find their home foreclosed.
Category: Lawsuits
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Missouri Attorney General Jay Nixon is suing several mortgage companies as part of Operation Stealing Home. The information was announced on July 28, 2008.
Category: Lawsuits
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