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
Alex and Stephanie Davis
on
Had a 15 year note with Saxon. Notified them of incorrect principle payments 2 years after they modified our loan. Never corrected. Never received snything from them snout cgsnges etc. When they finally replied their answer was do sell.my loan two years before finalizing. They chnged my mortgage to a 30 year note without notifying us or with our signatures. We notfied Ocwen who told us they would correct it. Two months before our mite finalized they sent us a note claiming we still had 30000 wing on a 35000 note. They tried to foreclose on our home and we have an attorney. They gave tried everything from we violated our loan to the loan was changed as the payments would not pay off the loan amount. But they set up the schedule.. we made our last payment in oct 2014. Since then they have managed to run the amount owing up to 50000 on a 15 year 35000 note. I was sutprised when I saw others having the same problem. Any suggesions onhow to proceed. We are in a fight to save our home.

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

Posted by
Dedra Stoudemire
on
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
on
I would like to know if they have a class action lawsuit Against Saxon Mortgage in Arkansas?

Posted by
Lynwood Toole
on
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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