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.
Archive for » December, 2009 «
Dee, no location given, said: “We have experienced all the same issues everyone on this site has. We’ve been in modification “discussions” for over a year. Funny, but I always thought people actually had to TALK to you to have a discussion.
Category: Complaints
3 Comments
Maria in California said: “I made partial payments on my mortgage and Saxon Mortgage would not return my money instead they put the money in an account called suspense account and no one notified me as to what was going on.
Category: Complaints
Leave a Comment
MR sent this analysis and opinion of Saxon Mortgage and trial modifications: “Saxon Mortgage servicing Deutsche Bank loans – They do not want to make the modifications. And why would they? The government has provided a way for them to disguise their “Help” by providing money to these servicers to enter people into this HAMP Trial program. Nowhere is there a trigger that obligates the servicer to actually modify any loans. My question is Why has there been no investigation into Saxon Mortgage Services? It is amazing to me that all of these complaints regarding the HAMP trial modification are exactly the same. Lost paperwork, extensions to the original 3 month time frame and ultimately there are denials.
Category: Complaints
Leave a Comment
Adding to the total number of complaints about Saxon Mortgage Services JH in Texas said this: “Is there anyone on here able to help or is it just to blow off steam? I could certainly use some help with Saxon Mortgage Services as I’m sure a lot of others could too.
Category: Complaints
One Comment
Sam in South Carolina said: “Wow! I just got off the telephone with Saxon and they’re claiming I did not make my payment in May and June. After speaking to numerous people and supervisors, they now are saying that I did in fact make my payments for May and June, but they did not get a payment for August. I searched my bank account information and called my bank only to see that I did in fact sent my August payment.
Category: Complaints
2 Comments
On February 20, 2009, we published our first consumer complaint about Saxon Mortgage. It is now December 15th, 2009, and we have published 137 complaints. We will receive more complaints about Saxon Mortgage before the year is over.
Category: Watchdog
One Comment
CR in Illinois said: “I was in chapter 13 bankruptcy after I lost my job. Prior to losing my job I had applied twice for the modification and was flat out told that I did not qualify. Even though I have been upside down on my loan by over 20K.
Category: Complaints
Leave a Comment
HM, location not disclosed, said: “In September of 2008 I was divorced and in the divorce I gave the house to the ex husband to pay and maintain, long story short he didn’t make ANY payments all the way up until June, I was notified in June that the house was being foreclosed upon.
Category: Complaints
One Comment
SB in Texas said: “I have been reading the endless complaints on Saxon Mortgage and had to join in. I have been working on a modification with them since September of 2009. My husband was hospitalized in April of 2009 and is no longer able to work.
Category: Complaints
One Comment
