I've been reading these reports for almost a year as I've been waiting for my 'loan modification' to come through. After the same run around and re-sending documents that everyone else here has done, I applied for a mortgage with another bank. I was DELIGHTED to be approved at a much better rate with a mortgage company that actually had a 1) Mortgage Department, 2) Customer Service personnel that - Services Customers! and 3) Integrity.

Time was of the essence. When the closing company for my new and improved mortgage company could not get a pay-off letter from Saxon, my heart sank. My closing co. said 'You call. The customer usually has a better chance of getting in touch with someone'. I said, 'You don't know the company I'm dealing with'.

When I called and got a hold of a 'Customer Service Rep', they congratulated me on the modification that just went through. (I had just received a letter in November denying the modification due to insufficient information in the 200 page package I sent them twice). The modification went through the SAME DAY THE CLOSING COMPANY TRIED TO GET IN TOUCH WITH THEM. Apparently, Saxon realized I still have EQUITY in my home which makes it even better for them to foreclose on.

Anyway, the 'Manager' I spoke to told me that I have a prepayment penalty with Saxon, that Saxon's prepayment penalties run for the duration of the loan. I have a document from New Century, who Saxon bought the loan from that states my prepayment penalty was up in July of 2008. She told me that it didn't matter, they are holding the mortgage and they are different.

I'm in Real Estate and I know this is illegal, my Mortgage Company told me this was illegal and my Attorney told me - this is illegal!!! Furthermore, they aren't even holding the note, I found out my note has been sold to Merchantile Financial and she was blatently lying!! So I said (and I love to do this - wait until they have incriminated themselves and do it at the end) 'oh, BTW, I forgot to tell you, I am recording this conversation for my attorney.' 'Can I have your name and ID no again please?'

I never received the payoff letter in time, I am putting my house up for sale to get out from the clutches of this company. This has been a full time job and the mental stress of dealing with Saxon is debilitating! I mean, it's 3:00 am and I'm spending another sleepless night worried about my mortgage.

Long and short of it, I've sent docs to Attorney, Senator, Local TV Station, President Elect Obama, with copies to Morgan Stanley, Merchantile, & Saxon referencing every name of every person I ever spoke to at that company.

Good Luck to everyone and I look forward to hearing some victory stories!!

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: 866-227-2256

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

e-mail address: [email protected]

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.

September mortgage payment was delivered via US Express Mail with confirmation that delivery was made on 9-20-08. I received calls that I was deliquent along with letters saying I was deliquent. Spoke to Saxon three times. On September 30, called them again and at that time I was advised that the payment was posted that morning. In early calls, I was told that the payment showed received at Saxon but was not being posted to my account. On their automated system on September 30, it says my account is past due. The letter that was sent to me had huge fees that were not explained. The payment was due on September 20 with a ten day grace period.

My husband and I had our mortgage sold to this company. For the past four months, Saxon has said that we have not paid our mortgage payments, yet it is clear that the payments have been coming out of our account. We are now in foreclosure and have yet to be given a solution or answer by the company after we have sent in proof of payment. We have a lawyer in waiting for our false "foreclosure sale" coming up.
One of the worst parts of this whole ordeal is our inability to get across to any staff that can actually help us. My husband has spent hours on the phone, holding for a supervisor. The time that I called most recently and a customer service representative started to put me on hold, I told her that I would not be willing to wait for long because I was at work and had to get back to my job. She had the audacity to say, "Well, I know work is important to you, but it's a shame you won't just spend the time to wait to talk to someone who can help you with this. We're definitely in on any class-action suits.

They bought my mortgage and I sent the first payment to the old mortgage company. Now they are fining me $4K. It seems from reading all of the other victims' stories, that they are a criminal operation. We should come together and hire a lawyer to put a restraining order on this company.

If they are committing so many illegal maneuvers, more than fines should be threatened, but actual criminal proceedings.