Saxon Mortgage is one of the lenders that actually saw a decrease in the number of homeowners whose mortgage fell into the range of being delinquent, but there was also a decrease in others areas as well. According to the February report from the Making Home Affordable Program, Saxon Mortgage saw a decrease in delinquencies from January to February as their numbers fell from 71,429 to 70,269.
However, Saxon Mortgage also saw a decrease in the number of trial and pending modifications made, which lowered their rank among the big lenders in the modification program. In January, Saxon had made either a trial or permanent modification for 48% of their homeowners, compared to the overall number of potentially qualifying homeowners. Yet, that percentage dropped to 41% as of February, according to the report.
Despite this drop for Saxon Mortgage, they are continuing to make progress as their number of permanent modifications went up as of February. While there are many Saxon Mortgage homeowners that have gotten a modifications and a good deal still waiting, solace can be taken in the fact that, despite a setback, Saxon Mortgage is putting more homeowners into a permanent modification each month.