Saxon Mortgage, Ocwen Loan Servicing Face Class Action over Alleged Mortgage Fraud

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Philadelphia, PA: A class action complaint has been filed on behalf of all Michigan homeowners whose mortgage loans have been serviced by Saxon Mortgage Services, Inc. and/or Ocwen Loan Servicing, LLC (collectively "Defendants"), and who, since April 13, 2009, (1) have entered into a Trial Period Plan ("TPP") contract with Defendants and made all payments as required by their TPP contract and complied with Defendants' requests for documentation, and (2) have not received or have been denied a permanent Home Affordable Modification Agreement that complied with the U.S. Department of the Treasury's Home Affordable Modification Program (" HAMP ") rules.

The Complaint alleges that Saxon Mortgage Services, Inc. and Ocwen Loan Servicing, LLC agreed to participate in HAMP, and are obligated to modify mortgage loans they service for homeowners who qualify under HAMP, a federal program designed to abate the foreclosure crisis by providing mortgage loan modifications to eligible homeowners. The lawsuit alleges that Defendants systematically slow or thwart homeowners' requests to modify mortgages in order to collect higher fees and interest rates associated with stressed home loans.

Members of the proposed class applied for HAMP loan modifications from Defendants, were prequalified for the program, and received TPP contracts calling for them to make three modified loan payments and submit certain financial documentation if they had not already done so. Despite fulfilling these obligations under the TPP contracts with Defendants, they did not receive permanent HAMP modifications of their loans, nor did they receive timely written notifications explaining the reasons for Defendants' denials.

Saxon Mortgage Services Class Action Legal Help

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Reader Comments

Posted by
I was defrauded by Saxon (HAMP), and now I hv a 50 yr loan with OCWEN!!??
In Maryland,

Posted by
Dedra Stoudemire
I need help, I also have been frauded against by Saxon Mortgage and Ocwen mortgage. Not in regards to the HAMP program but still in relation to a foreclosure and improper filing of documents. I need an Attorney who is already familiar with their unlawful practices. Please help me.

Posted by
Kalisha L Todd
I would like to know if they have a class action lawsuit Against Saxon Mortgage in Arkansas?

Posted by
Lynwood Toole
Never received anything on this lawsuit! I closed in July 06 w Saxon mortgage. They sold my mortgage with in a couple of months to Ocwen mortgage. I have had this mortgage 10.5 yrs at 8.8%

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