Morgan Stanley’s Unit, Saxon Faces U.S. Inquiry on Military Family Foreclosures

U.S. Inquiry on Military Family Foreclosures

The Justice Department is investigating allegations that a mortgage subsidiary of Morgan Stanley foreclosed on almost two dozen military families from 2006 to 2008 in violation of a longstanding law aimed at preventing such action.

A department spokeswoman confirmed on Friday that the Morgan Stanley unit, Saxon Mortgage Services, is one of several mortgage and lending companies being investigated by its civil rights division. The inquiry is focused on possible violations of a federal law that bars lenders from foreclosing on active-duty service members without a court hearing.

Mark Lake, a Morgan Stanley spokesman, declined on Friday to comment on the investigation. However, in the fine print of a recent regulatory filing, Morgan Stanley disclosed that it was “responding to subpoenas and requests for information” from various government and regulatory agencies concerning, among other issues, its “compliance with the Servicemembers Civil Relief Act,” the law that governs the actions creditors can take against service members on active duty.

Check out the rest here…

Court Filing Referring to Justice Dept. Investigation below…



Saxon Court Filing Referring to Justice Dept. Investigation

4 Responses to “Morgan Stanley’s Unit, Saxon Faces U.S. Inquiry on Military Family Foreclosures”
  1. Pamela says:

    Obama is too stupid he will wait until we have civil war and pit brother against brother and so forth,he and his comrades will run and hide like the true cowards they are.VA will not get into this as they will tell you just like Social Security will that they are laws unto themselves and do not require regulating.Have you ever heard such rot?

  2. l vent says:

    What are they doing? Someone who has the authority to stop them needs to stop them. President Obama, I think they are begging to be stopped, they are a runaway train. It is now way past time for a Nationwide Moratorium on Foreclosures. The rampant mortgage fraud is proven and Foreclosuregate is a national disgrace. Now they are fraudclosing on our soldiers, that is despicable. The Banks are making a world wide mockery of The United States of America and I am very sorry to have to say this, they are making a laughing stock out of you Mr. President..Please do something already!

  3. Pamela says:

    They probably did not have parents that instilled anything worth while as thier behavior shows born and bred cowards.To attack women and children when thier men are not around or fighting in a war that these nutless wonders would not do for themselves or anyone else.Entitled and enabled behavior allows things like this to happen.Should definately not happen to seniors,children or folks in the service fighting to keep morons like this free.Break out the water boards.

  4. pamelag says:

    it is obvious these people would steal from anyone. bet their mothers are proud. this proves what treasonous mentalities we are dealing with. the VA needs to get into this. God Bless America.

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