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"The median monthly payment reduction for borrowers enrolled in
the (HAMP) program is $522" - DSnews.com

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Ocwen and Saxon Mortgage Sued in a Class Action Lawsuit


A law firm in Philadelphia has filed a class action lawsuit against Ocwen and Saxon Mortgage. Ocwen and Saxon mortgage agreed to participate in the HAMP Program through the government. Multiple homeowners received HAMP trail loan modifications through these banks.  The homeowners were requested to make 3 months of a trial payment before they could qualify for a permanent loan modification. However, when it came time for the customer to be reviewed for a permanent loan modification through HAMP they were denied.  The homeowners were not notified in a timely manner why they were denied.