August 11, 2009
There seems to be some type of collusion occurring between so-called "mortgage servicers", banks and Congress. Although significant legislation has been passed requiring lien holders to contact homeowners and attempt to modify their loans, these companies seem impervious to legal requirements and their consequences for noncompliance.
One of the worst offenders in the "mortgage servicer" category is Saxon Mortgage. Not only is this company an apparent "black hole" when it comes to providing information, they are well known by most legal firms dealing with foreclosures, being described by one attorney as "one of, if not the worst of the bunch".
How is it that these shills for "investors" can circumvent legal requirements and continue to profit at the expense of our economy for the sole purpose of sucking out further ill-gotten gains? Politicians who sat by and allowed this rape of homeowners to proceed will not be forgotten when the next election rolls around. When hundreds of thousands of people's net worth is basically wiped out to further line the pockets of politicians and criminals posing as mortgage bankers there will be consequences.
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