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Subprime Successors Slug It Out In SDNY Over Servicing of Saxon By Owcen Now PHH

By Matthew Russell Lee, Patreon
BBC - Guardian UK - Honduras - The Source

SDNY COURTHOUSE, June 18 – Successors to past subprime lending failures duked it out June 18 before U.S. District Court for the Southern District of New York Judge P. Kevin Castel. Inner City Press covered it.

  PHH Mortgage Corporation has sued 21 Asset Management Holding LCC for allegedly violation a servicing agreement.

But 21 Asset said its deal was with Ocwen, not PHH. Also in the mix are the names of old subprimers Novastar and Saxon.

   Judge Castel to his credit cut through some of the murk, and ordered the two sides to share with the other the version of the servicing agreement they are replying on.

The case is PHH Mortgage Corporation v. 21 Asset Management Holding LLC, 20-cv-2561 (Castel).


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