Saxon Mortgage Services Review
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Saxon Mortgage Services, Inc. is the mortgage servicing division of Saxon Mortgage, the now defunct Morgan Stanley owned subprime mortgage wholesaler. We located a website, a number of customer complaints and two phone numbers.
Saxon Mortgage Services, Inc. Website and Phone Contacts
Saxon Mortgage Services, Inc. Website: https://www.saxonmortgage.com/Home/
Saxon Mortgage Services, Inc. Phone:
Customer Service
Phone: 800-594-8422
Loss Mitigation
Phone: 888-325-3502
Fax: 888-240-1885
Address: P.O. Box 163405, Fort Worth, TX 76161
Saxon Mortgage Services Review
Saxon Mortgage Services has a huge number of complaints (alleged is everything from issuing payoffs slowly to wrongful foreclosure) against them before and after the closing of the wholesale operation early in 2008. They proudly claim to be part of the Hope Now Alliance on their website. You can click the link to read just how ridiculous the Hope Now Alliance is in my view.
In the case of Saxon Mortgage Services, Inc. the chances are good they they own your mortgage, so you can discuss loan modifications with them directly, but of course, modifications on loans not in arrears or default can be futile.
If you are facing foreclosure, you need information on how to get your loan modification approved fast, click the link to learn more, Stop Your Foreclosure Now!
It appears when I search for complaints against Saxon Mortgage Services, there are many. Click here to see all the Saxon Mortgage Services complaints listed in Google.
BBB Activity on Saxon Mortgage Services, Inc.
” The company’s size, volume of business and number of transactions may have a bearing on the number of complaints received by the BBB. The complaints filed against a company may not be as important as the type of complaints, and how the company has handled them. The BBB generally does not pass judgment on the validity of complaints filed.
Number of complaints processed by the BBB
in the last 36 months: 313
in the last 12 months: 215″
BBB lists the following DBA names as well,
MERITECH MORTGAGE
NOVASTAR
SAXON HOME MORTGAGE
SAXON MORTGAGE
See Comments Below to Add/Read Customer Opinions On Saxon Mortgage Services, Inc.
Please give us your comments if you’ve had any dealings with this company!
Author: The Mortgage Insider
Date: September 24, 2008
Tags by Post Complaints, Mortgage Servicing, Review
Technorati Complaints, Mortgage Servicing, Review
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I am not a happy camper. I don’t make enough money to qualify for the Obama home mortgage deal. I don’t make enough money to qualify for the Saxon mortgage deal. Debt to ratio is a big deal with them. Well lower my house payment and my debt to ratio would be better. They look at you and say if you can’t afford the higher payment and your debt ratio is higher than a certain number you are too high a risk to lower your payment.
I have never been late I have had some bad luck and a big decrease in my income. They allow you $100 per person per month for food credit. Figure that one please provide me with a grocery list and recipes I can live on for $100 a month.
Good luck everyone.
Seriously, Saxon will jerk you around and so will most mortgage companies. Call your local tv station or go on line to their consumer investigative reporter. Contact them. Then call back Saxon and tell them you contacted blah blan TV station, and you give them full permission to investigate the case of your inability to get a mortgage modification. You will then see a miracle. They jerked me around for half a year. When I contacted the TV station via email and told them so I had an instant load modification within 10 minutes, I kid you not.
At first I thought they were just incompetent, then dishonest, they have a bad case of both. I’m telling you get a consumer help program involved from a major tv station. They will jerk you around util you find yourself living under a bridge.
Saxon sucks, I could have written that because the same thing happened to me. I suggest you call your local TV stations consumer helpline. Most larger cities have them and you can contact them via their web station. It would take me all day to relay what **** I went through with Saxon over half a year with no results. Contact the TV station, then call back the snippy customer representative and tell them the TV station’s investigative reporter and or their consumer lawyers will be contacting them and for them to write in their notes that you give your full permission for the tv show to investigate your attempts to get a loan modification. Then get the fax number to fax your written permission. You will have a miracle modification that very day….!!!!!!!
Saxon is a nightmare from HELL!!!! I have had 4 homes w/ all different lien holders. I have never had a problem w/ any of them except Saxon. Try not to deal w/ these people. They LIE!!!! They lie on loan modification and on insurance loss.I feel like pulling my hair out when I finally get off the phone w/ these people. Ten different stories from ten different people. It would not matter if you called ten times in a row. You wont get the same story. Nothing is ever their fault. I have been dealing w/ them w/ an insurance loss. I have had to take off work to wait on the phone for over 45 minutes to get lied to. It is a joke. These people are a joke. Oh and I dont qualify for a loan modification—blah blah— But I meet every one of their requirements. CRAZY!! Just dont pay your payment and nearly get your familes home taken away. SURE? I will do that. Dumbass people! The best part is when I went to get the loan I thought it was a 30 year fixed-NOPE-went to sign papers—-found out it was a 5 year interest only. Adjustable. I have been w/ them 3 years. I am now refiancing w/ my local bank. THANK GOD!!!! I will be paying a higher payment. I do not even care. It is a blessing not to deal w/ these people. At least some of it will be going towards principal. I am so aggravated. Has anyone ever had a good — well wait a fair experience w/ this joke of a service?
Joey I am so sorry to hear about what your hubby did. It works with either side of the marriage game. There are guys and gals out there that should never be married.
I have to truly believe in the what goes around comes around karma thing. I have to it is all that keeps me sane. I was laid off a year ago from my job of 32 years. I had 6 months to go to get full retirement, now I can only get 38%. I was hurt and have a bad back in 2004 and they finally found a way to use it against me.
Anyway sorry I got side tracked. HAMP stands for homeowner assistance modification program. I was on the phone with Saxon this morning. It just started today and it sounds like a good deal if you qualify. I am trying to get qualified. I won’t know until Friday.
Hang in there and think positive. I have always found out things do work out not as we always want them too but they do come together in a way that is the best for each one of us.
Julie!
Thank you so much for your compassion and words of encouragement, it truly means a lot to me right now!
Also, I’m sorry to hear of your situation. It just never seems to end does it?
I too called Saxon this morning, was on hold for about an hour and finally was told that someone would do a “drive by” appraisal of my home and then they would decide from there if I was qualified.
I’m going to assume…(uh-oh) that they will determine if my home is worth what my loan is? The girl I spoke with didn’t seem to have very many answers for me when I had questions.
Her basic response to any question I had was for me to call back in four business days, which is Friday, May 8th and they will have “decided” if I qualify for the HAMP Program. (I swear, I keep wanting to write HEMP, cause I think they are all smoking it..) *smiles*
How awful is it to be at the “mercy” of this Company! I for one am scared as hell, and it sounds like I’m NOT the only one!
I’ll be “pulling” for all of us in this situation and praying too, I don’t know what else to do at this point!
I’d like to stay in contact with you, if that’s OK? It sounds like you and I have very similar situations AND you seem like a really nice person!
Maybe we can compare “notes” as to what happens on Friday?! (Only if you want to, of course!)
Take care of yourself and I hope to hear from you again!
Joey
I filed for a loan modification in December. i kept calling Saxon. In March 4th they told me i was approved and I will receive my paper work in 2 weeks. it’s now April 19, 2009 and I have not received any paper work. They said my new loan amount will be effect on May 1st. After reading all these bad comments about Saxon I am very nervous. my mortgage is now 77 days past due… i don’t know what else to do any advise?
Keeping calling them for the paperwork. Be persistent. Don’t believe what they say…only what they do.
I have been trying to get a loan modification from Saxon also. I called them last summer to see if we could work on a modification because I knew that I wouldn’t be able to pay what I was paying because of financial difficulty. Income loss and the bankruptcy of my ex husbands business…so he wasn’t paying child support or alimony. They told me they could not work out anything with me unless I was 90 days late. Basically I was told not to pay my mortgage and call back in a few months. I did just that and when I called back I was told that since my loan was only 11 months old from the date I stopped paying, I was not eligible for a modification. WHAT??????? Why wasn’t this told to me earlier?? I was
so distressed and in fear of losing my home of over 5 years that I hired an attorney that told me she would take care of everything….ya, right Ms. Gail Balser Esq. Now almost 3 grand and 7 months later I get a forclosure notice from Saxon. I have decided to do this on my own and stop paying an attorney. I dread getting back on the phone with these loss mitigation people. They have no idea what they are doing and everytime you get a different rep. you get a different response. I am so fearful about losing my home because of stupid mistakes made by uneducated people who call themselves specialists. If I didn’t have 3 children I would probably just have given up, but we would have no place to go. Also I am in a new job since Dec. and should be a prime candidate for a modification. If anyone has a number where I could bypass the bs reps and deal with someone who knows what they’re doing at Saxon please let me know. God Bless and try to keep your sanity. I’m teetering on the edge of mine! Eileen
I was priviledged enough to talk to Saxon just today. I do not fully understand Obama’s deal but evidently there are 6 lenders the government has given privi to to use government money to help people try to stay out of foreclosure. Oh geez can you believe Saxon is one of them.
So you call the 1-888-325-3502 and then ext 255991. Plan on it ringing several plus times before you get guess who the collections department. They take your financial information and tell you to call back tomorrow to see if you were accepted as being eligible to send in the financial package to see if they are willing to help you.
I get to call back tomorrow.
I’ll stay in touch and good luck to you.
Julie,
Let us know how things work out.
Good Afternoon
I talked with Saxon this morning and they told me I was approved to apply for a loan modification. I will fax my financial packet into them on Monday. I am too wait for 10 days after that before I call them back for a status check and I was told it takes 30 to 35 days for a modification to be approved or disapproved.
I am sure that is business days so give or take 2 months is my thoughts.
Hi Julie, I also talked to Saxon. One of their reps actually
called me yesterday. The rep was very nice and
mentiond the gov’ts HAMP plan/program. I didn’t get any
details because they haven’t been determined yet. She
asked me a lot of questions to
see if I was eligible. The only bad thing was when I asked
her what the guidelines were she told me she didn’t know.
They would look over my information and if I was eligible
I would be getting a loan modification package in the mail. I was
told to call back on May 4th to find out what my situation
is and if they can help me or not.. I guess that’s the day that they will know for sure what
the actually guidelines are. I was also told that my “foreclosure”
would be put on hold for now. I also found out that the lawyer I hire only made one phone call to them since Oct. 08. I called her
and basically told her to &*^% off! She is claiming I owe her
money still, a last payment of 500.00. I’m curious to see if she
takes me to court over it. I will keep you updated. I hope this is a good sign for everyone who is stuck with Saxon. Eileen
Julie!
I just got off the phone w/ Saxon a few hours ago and was also told of this HAMP program and was ALSO told to call back on May 4th! What’s up with May 4th?
I am in the midst of a divorce, my husband left, and left me with a totally upside down mortgage and I am on Disability with a son!
We have had on-going problems with Saxon from the second they acquired our loan from Novastar.
I’m really curious now what this HAMP Program is, but cannot find anything about it on line?
Guess we’ll both be on hold for a while on Monday, huh?
Good luck to you and if you find anything out about HAMP, (which I’m wondering now maybe they mean HEMP and are all smoking it over there at Saxon), let me know!
Take care!
Find out who holds the mortgage note, Saxon probably doesn’t, ask for a copy of the note. Legally they have to divulge this info.
Eileen, First question, ask for a copy of your mortgage note. Saxon Mortgage services says it is a debt collector, check to see if they actually hold the note. If not , they have to divulge what entity holds your note. If your note is not held by Saxon, contact the note holder and negotiate with them. Good luck, have been through this drill and actually did get a modification and my note was held by Deutsche Bank through Saxon Services. Please don’t be afraid, that is what they want. Good luck.
Pat
Hi Pat,
Thanks for the help. Saxon is the servicer and We both have the same bank holding the note. Is there any way I could talk to you to get some more info from you? It seems the longer this goes on the more nervous I get. I have been in contact with Saxon but every time I speak to someone I get different advice and can never get anyone who really knows what they are doing. My email address is windpug1@aol.com. If there is any chance of speaking with you so when I approach them I know exactly what to say and who to say it to it would be such a burden lifted. Thank you Pat, I feel like there is a light at the end of the tunnel.
Eileen
Massachusetts
Wow in reading this I see we have the same problem. My wife had cancer and we could not pay the taxes. I had a payment plan set up with the County and was making payments with them when saxon paid the taxes and then started charging late fees and penaltys and it doubled our house payment. We could never catch up. Now we sent in a modification in Dec and we never got any response. I was going to send them 3k and asked for a written reciept that it would stop the foreclosure and they would not give us that ?? They never call you back and each time you call in they have no idea of any previous discussion you had with them ? Its ridiculous. I sent a complaint to the Federal Trade Comm.