PigBoy's Personal Pork-Pull

PigBoy's Personal Pork-Pull

Let's reminisce about Saxon...

I'll take 5 minutes with babyface.

All about Dennis
by Dennis 

(He wrote the original and I fikked it. He started off just like that: "Mr. Stowe is our President...")

Mr. Stowe is our President, Chief Operating Officer, and a Dick. He has served as President and Chief Executive Officer of Saxon Mortgage Services and Senior Vice President of Saxon Mortgage since 1994. Before going to prison, Mr. Stowe was Vice President of Niagara Portfolio Management Corp. (Niagara), responsible for screwing up the liquidation of Goldome Credit Corporation (GCC) pursuant to Niagara’s crony-fare deal with the FDIC, and servicing GCC’s Senior Vice President in the men's room. Mr. Stowe received his Bachelors of Business Administration (BBA or "Bubba") in Creative Accounting with honors from the University of Texas at Arlington. (The competition was stiff with its acceptance rate of 60%.)

How grand! Did you say our President was "Chief Executive Officer of Saxon Mortgage Services and Senior Vice President of Saxon Mortgage" since 1984? Ah, Saxon. One of the first companies dubbed a foreclosure mill, it figures large in the New York Times story I quote from below. An earlier incarnation of the law firm that does some of Dennys dirty work, then called Barrett Burke Wilson Castle Daffin & Frappier, is also mentioned.

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NOBODY wins when a home enters foreclosure — neither the borrower, who is evicted, nor the lender, who takes a loss when the home is resold. That’s the conventional wisdom, anyway.

The reality is very different. Behind the scenes in these dramas, a small army of law firms and default servicing companies, who represent mortgage lenders, have been raking in mounting profits. These little-known firms assess legal fees and a host of other charges, calculate what the borrowers owe and draw up the documents required to remove them from their homes. (Read the rest at NYTimes.com.)

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Saxon got in twubble :( and screwed up and laid off 454 employees...even though they twied and twied to stay afloat by wrecking people's lives. So someone is three $300 payments behind. That's $900 bucks out of $108,000 they will eventually pay you. Turf 'em, says Stowe.

But did he keep his snout clean at Saxon?

Saxon complies with and intends to be in compliance with all relevant best practices, rules and regulations of the SEC and NASDAQ under the Sarbanes-Oxley Act because of our firm belief in sucking eternally.

I think it's great that they intend to be in compliance. Those people in the picture intend to pay their loan.

Updated its code of conduct? It had thrown one together just before the FBI and the SEC kicked the doors in.

The Company has updated its Code of Conduct in accordance with the new requirements, has communicated these updates to its directors, officers, and employees, and posted the Code of Conduct on the Company’s web site. So no more jerking off at your desks when there are women in the building.