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.
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We invite our readers to visit Refile News where a new article highlights Saxon Mortgage and Deutsche Bank foreclosures. The news team quotes consumer advocates from Saxon Watch and disputes claims that Saxon Mortgage Services has modified more mortgages than any other servicer. Recent news reports from other sources say only one percent of trial modifications from any source actually result in permanent modifications.
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A recent report by the Congressional Oversight Panel, which is monitoring the government’s Troubled Assets Relief Program, found that only about 1 percent of borrowers had moved from a trial modification into a permanent one.
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There is more hope for homeowners from the standpoint of bringing reality to Washington. While lawmakers think HAMP and foreclosure aviodance is working well many homeowners know a different version of the truth.
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Morgan Stanley, owner of Saxon Mortgage, and other Wall Street firms agreed to pay $100 million to settle a lawsuit accusing them of propping up American Business Financial Services Inc.
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Morgan Stanley is the parent company of Saxon Mortgage. Du Jun, former managing director of Morgan Stanley has been sent behind the bars for seven years by a Hong Kong court for insider trading. Du Jun has also been ordered to pay a fine of HK$23.3 million.
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There are changes at Morgan Stanely, parent company of Saxon Mortgage. Morgan Stanley Chief Executive John Mack is stepping down and will be replaced by retail brokerage head James Gorman, signaling the storied bank is embracing stable businesses after losing big on risky ones. Personally I think the move is made before Saxon Mortgage is exposed and sued.
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COLUMBUS, Ohio (Reuters) – Ohio Attorney General Richard Cordray said on Tuesday he is plans to sue more mortgage companies over dealings with troubled homeowners in an effort to break the foreclosure crisis.
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Saxon Mortgage parent company Morgan Stanley learned today that freedom of speech does not mean a company can lie to investors. A U.S. federal judge has ruled that Morgan Stanley and two credit rating agencies must defend part of a class-action lawsuit over losses on a fund that collapsed during the credit crisis.
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When people read the news they get the spin, depending on the source. For instance, one source would lead people to believe that Saxon Mortgage is the best in foreclosure prevention, mortgage modifications, and corporate citizen of the year. Others tell a different story:
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