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Class Action Lawsuit against Saxon Mortgage Services, Inc. and Ocwen Loan Servicing, LLC

Posted: September 14, 2011
Practice Areas: Consumer Protection, Insurance & Financial Products & Services

PHILADELPHIA--(BUSINESS WIRE)--The law firm of Berger & Montague, P.C. has filed a class action complaint in the United States District Court for the Eastern District of Michigan 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.

If you believe that you have been improperly denied a permanent loan modification by Saxon Mortgage Services, Inc. or Ocwen Loan Servicing, LLC after April 13, 2009, please contact plaintiffs' counsel, Eric Lechtzin of Berger & Montague, P.C. at 888-891-2289 or 215-875-3038, or by e-mail at elechtzin@bm.net. A copy of the Complaint can be viewed on the firm's website at www.bergermontague.com or may be requested from the Court. The docket number is 2:11-cv-13973-SFC-MJH.

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.

For more information about this case, please contact:

Todd S. Collins, Esq.
Eric Lechtzin, Esq.
Kimberly A. Walker
BERGER & MONTAGUE, P.C.
1622 Locust Street
Philadelphia, PA 19103
Telephone: 1-888-891-2289 or 215-875-3000

Berger & Montague, founded in 1970, is a pioneer in class action litigation. The firm's approximately 70 attorneys concentrate their practice in complex litigation, including consumer protection, securities fraud, whistleblower and false claims actions, antitrust, labor and employment rights, and environmental and mass torts, and have recovered several billion dollars for consumers and investors.

Contacts

Berger & Montague, P.C.
Todd S. Collins, Esq.
Eric Lechtzin, Esq.
Kimberly A. Walker
1-888-891-2289 or 215-875-3000