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Saxon Mortgage Services / Saxon's Inability to Service A Mortgage Account

P O Box161489Fort Worth and States, TX, United States Review updated:
4.7
Contact information:
Phone: 800-594-8422
I have read other complaints on this site and will join you in complaints against Saxon Mortgage.
Before i go into detail about what Saxon has done, or failed to do, I want to shae some very valuable information. Saxon was acquired by Morgan Stanley Brokerage in 2005. Your complaints about Saxon should go to Morgan Stanley. Here is the contact informaton you need. I encouarge you all to do as I did and that is to call, send an e-mail and also send a letter by snail mail.

Morgan Stanley Advocasy Department phone number: [protected]

mailing address: Morgan Stanley Client Advocate
680 West 10000 Suite 3rd Floor
South Jordan UT. 84095

e-mail address: clientadvocate@morganstanley.com

The phone will be answered by a human being. Tell them that you are an investment owned by Morgan Stanley. We are infact, investments that Morgan Stanley has purchased and has hired or acquired Saxon Mortgage Services to do just that, service our mortgages. As an investment of Morgan Stanley we are a valuable commodity. They can't afford to lose any of us. So by all means contact Morgan Stanley Brokerage and let them know how dissatidfied you are with the Service you receive from Saxon Mortgage. BE PROFESSIONAL, don't scream or cuss. I recommend that before you call, write down, in detail, those things that Saxon has done wrong in Servicing your Account. Then also write down what it is tha you are looking for Saxon to do. Be realistic. If you are in a mortgage that there is just reasonable way for you to maintain, then bite the bullet, contact Saxon and ask for a deed in lieu of foreclosure. Then don't wait for Saxon to move you out of the home, make arrangements and move. Don't destroy property and don't do foolish things like remove windows or ceiliing fans and light switches. DON't
PAINT THE WALLS RED or scribble ugly words on them. These type of actions will only get you in trouble and doesn't help your cause.

Here is what has happened with Saxon and Us...


1)We were sold to Saxon before our first payment was due.
When it came time to make the payment, and understand we had always made all of our payments on-line, Saxon demanded a 4.95 payment to make a payment on-line, unless we set them up for ACH or Automatic payment. Who charges someone to make a payment to thier account? This action was to force people to set up automatic payments

2) Saxon paid the wrong homeowners insurance company, the wrong insurance premium
Saxon had listed our insurance company as State Farm Ins. we've have never used State Farm to insure anything we own. In addition they paid $660 on this premium we did not own. Our insurance Premium was $402. We made the discovery upon receiving a cancelation notice from our homeowners insurance company. It took from June 2007 until December 2007 to get this straightened out. and that included calls everyday to Saxon. Our biggest concern is where is the $660 that was retuned by State Farm. It as never posted to our Escrow account, nor was it applied at a priciple reduction, or payment. So where is it?

3)Saxon double paid our REAL Homeowners Ins carrier. After 2 months that money was returned and posted to a suspence account, after several calls and a few months, instead of being posted to our escrow balance. Saxon applied it as a principle reduction, several calls and another month later this money was transferred to our ecrow balance.

4)In December 2007 we receivd a letter from our county treasurer's office that stated we owed back taxes and penalties and interest. Again a few calles to Saxon Mortgage and Saxon finally paid the proper tax amount, However they have charged our acount the penalties and interest. I am still fighting them on this one.

5)Saxon has changed our payment amount 5 times in the year and a half that Saxon has serviced our account. There have been no justifiable reasons for changing (always increasing) our payment amount.

6) I performed an amortization of our account and realized that Saxon was charging us 88. more each month than was owed for P&I and escrow and this had been going on with each increase Saxon had made to our loan payments. Saxon had posted our annual property taxes as $547.12 instead of the correct amount of $345.44. They had also continued to show the wrong insurance company and the wrong insurance premium . FINALLY in November 2008 I got Saxon to do a re-amortization of our account. It is still slightly off, but is closer to what the payment should be.

7) We tried to refinance and get out of the grasps of Saxon in December 2008, to no avail. Saxon maintains that we signed a 5 year 5 percent prepay penalty document when we closed our loan. When we reviewed our documentation (several times), we found no document of any prepay penalty. We asked that Saxon send us a copy. They did. The signatures that appear on this Document are not ours. We want to fight Saxon on this and have sent a letter to their protected Customer Relations Department and heard nothing back from them at all. Our next recourse would be to hire an attorney and fight Saxon on this, but following a conversation I had with an attorney, this is one of the most difficult cases to argue, it becomes a sort of he said, she said kind of thing and is costly. We do not have the funds available to begin such an argument or I can guarantee you that we would.

8) Since we could not refinance at a lower interest rate we are stuck with Saxon. If Saxon had cooperated, we would have long ago resolved the connection we have with Saxon and also our rate would have been reduced and our payment lower, but as it is, we had to turn to Saxon for a loan modification in September 2007. Here we are in Mid November of 2007 andwe have yet to have a conversation with a negotiator from Saxon. We were told at the time that we filed for the modification that the negotiator has 20 days to make contact. That is of course, 20 business days, excluding any federal holidays. Lets see. September 10th---- until Novemebr 20. Some where in ther I know we hae well past the 2 day marker. I call everyday. And everyday I get to leave a voice mail. I will tell you that one day at 5:53 in the afternoon, I missed a call from Saxon. A voice message was left, giving me a name of Trina Higginbotham, supposedly a Vice President of the Loan Loss Mitigation Department and a direct dial phone number. I have called this number everyday, up to 4 times a day and each time I receive a voice mail system encouraging me to leave a message and that my call will be returned. No call has ever been returned.

In my opinion Saxon treats their customers as much less than dirt., They don't think of us as cusotmers, uyet they should, because we are indeed an Investment belonging to Morgan Stanley who acquired Saxon Mortgage and if the investment crumbles thereis loss for everyone involved. Again I encourage you to contact Morgan Stanley.
Vi
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Comments

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Ri
  10th of Dec, 2008
Agree Disagree 0 Votes
we should have the story on saxon mortgage services on 60 minutes
Al
  5th of Jan, 2009
Agree Disagree 0 Votes
Morgan Stanley defends Saxon and ordered Saxon to foreclose on all the loans that they can. Morgan Stanley sucks also! Please save your home and go to the only website that will offer REAL HELP from real people. Read the our site and fill out the short form and get the wheels of justice working for you!
www.homeforeclosureintervention.com. You will so glad that you did!!!
Sa
  22nd of Jun, 2009
Agree Disagree 0 Votes
Saxon Mortgage has also caused us much harm and are foreclosing on our property. Among other things they have mis-applied our mortgage payments, changed our escrow payment, canceled our home owners insurance, charged us mysterious fees, and began foreclosure proceedings even though we were not late on any payments whatsoever. We made every attempt to straighten the matter with them by calling several times a week and mailing, faxing and e-mailing proof of payments all to no avail. It appears that many others are having or have already experienced trouble with Saxon Mortgage and we need your help. Please, if any one out there that is currently in foreclosure or have already been foreclosed on due to Saxon Mortgage's shady practices, we need your help! Please provide us with evidence of the harm they have caused you due to fraudulent practices. Please become a witness in our case against them. The more we can establish a repeat pattern of their illegal, shady practices, the better our chances of beating them. We have to go Pro Se (represent ourselves in court) because lawyers want upwards of 35K up front to defend us and we don't have that kind of cash lying around. Big companies like Saxon Mortgage (backed by ginormous companies like Morgan Stanley) know that they can get away with most of these acts because the people they are preying on can't afford the lawyers they need to pull them out of the mess they cause. They may lose one or two, here or there, but it's worth the many more they win. Many of these homes have quite a bit of equity to them, so Saxon has a lot to gain by foreclosing on the properties. Please, help us beat them at their own game. We would appreciate all the help we can get. The more evidence the better. Spammers please don't abuse our e-mail address...we have enough trouble on our hands and we can't afford anything, so sales pitches are no use. Please e-mail: (Put the letters together so they form the actual e-mail address...it keeps helps to keep bots from finding our e-mail address) D e L a n d F u N (at) a o l dot com. Thanks!
Ak
  31st of Aug, 2009
Agree Disagree 0 Votes
I sent an emial to Morgan Stanley as was suggested never heard a thing. So much for that.
Ak
  31st of Aug, 2009
Agree Disagree 0 Votes
Morgan Stanley doesn't really care either.
Ti
  7th of Sep, 2009
Agree Disagree 0 Votes
That good old suspense account that is how they earn interest with our money. Also turn them in to the better business bureau of Texas they hear and reply. State attorney general also. I have been heard and talked to by both. The only people listening.
Lo
  30th of Nov, 2009
Agree Disagree 0 Votes
They are many companies that are legitimate and can help homeowners stop foreclosure and keep their homes.

Mortgage Assistance Group is one of those companies that holds an "A" rating with the BBB and has help over 500 homeowners keep their homes.

They give a discount to the homeowners who have been scammed and treat each client with respect and dignity.

You can reach them at 623-486-4505 and at www.mag-az.com.

Thanks and good luck,

Randy D.

P.S. If you know someowner they can help, They will pay a $100 referral!
Ti
  12th of Jan, 2010
Agree Disagree 0 Votes
Call Robin she is a BBB customer complaint answerer with Saxon 1-817-665-7862 then there is Megan 1-888325-3502 these may change when they get to many calls, but worth a try.

Saxon also took one of my mortgage payments put it into a suspense account because it was early. I had done a double payment to get my account ahead and they decided to use it for late charges, do you live in your house charge, unknown appraisal fee and many other non-verified charges. I still to this day have not gotten a clear answer on this and probably never will.

I finally got a home modification done with Saxon I started in August 2008 and it was final on Jan 1, 2010. My final paper work was sent on Christmas eve and I had to have it notarized before sending it back and they would sent a notary to my house no way do I want them in my house and they said that person would take the envelope with them and send it noooooo I took it to the bank had it notarized made copies sent it back in the prepaid envelope and had to send my payment difference by phone to no have any lag time for them to say I was late on my January payment I did this all on the 26 of Dec. The new modification payment was about 200.00 from the original due to escrow and i had already paid my monthly payment for Dec and them the new payment came a difference of about 200.00 so I did an over the phone payment so they could not get me as late and take my house away. You have to be three steps ahead of them and read all material call immediately to ask questions and keep a clear head and keep a notebook of all information obtained form them. They tried to charge me with the are you living in your home charge of 9.50 to have someone come by and check to see if the house was still being lived in.

Saxon is now at an F rating with the BBB and having to answer to them.

I have been fighting with Saxon since 2005, I finally filled a complaint with the Texas BBB got a call the next day to help me and answer questions. I also filed a complaint with the national banks http://www.helpwithmybank.gov/complaints/index.html also put a complaint with Morgan Stanley who owns Saxon.

I call at least three times a week take the employee number and ask that they look at my file and read the screen and tell me when I last called in and noted taken and if anything else new. When taking to Athena Walker just remember she is one person working with probably thousands of us. So call customer service and have them transfer you to the home modification line they will have more information on your paperwork . The fax number to send paper work should be 1-866-695-1563 please try first before counting on. Many number have been discounted or no longer in service. The last number for a negotiator office 1-866-236-9425.

You have to call them everyday and bug them. Never give up. I think this company has a high turn over of employees so we will always be talking to those who are in training. After calling for the last four years I can help them get to the information they need to look up and recited their rehearsed saying. I beat them to all information they ask to verify my account I have called up to four times a day to make sure they have inputted the prior call information discussed I think they know me will now and i have a flag on my account. I figured they could call me that many times and harass me I could call back and drive them crazy and know I exist I am not just an account.

Also check this site out http://www.makinghomeaffordable.gov/modification_eligibility.html you can call and email them and let them know you are getting nowhere with Saxon.

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