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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 Purchased Saxon Mortgage


Ocwen Financial Corporation has bought Saxon Mortgage Services from Morgan Stanley.  Ocwen bought Saxon for a reported $59.3 million dollars. The other part of the deal is that Ocwen will receive $1.4 billion for servicing advance receivables outstanding. The actual transaction will be completed in the first quarter of 2012. Morgan Stanley paid $706 million for Ocwen back in 2006.