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Litton Loan Servicing |
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©Copyright 2006 Certus LD LLC. Reproduction in any form without written authorization is prohibited |
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Litton Loan Servicing, LP A subsidiary of C-BASS
Litton’s propensity for crossing the legally-accepted boundaries of loan servicing are well known among consumer advocacy groups, but they are a relatively small servicer, only slightly larger than SPS in late 2006. Their public-relations efforts in the Houston area attempt to paint a completely different picture, but when the Houston BBB started listing them as having an unsatisfactory record of handling consumer complaints, they simply didn’t remain a member. In legal filings, they specify their structure as: “LITTONLOAN SERVICING, LP is a Delaware Limited Partnership. The General Partner is Litton GP LLC and the Limited Partner is Credit Based Asset Servicing and Securitization LLC. There is no publicly held corporation that owns 10% or more of its stock.” C-BASS is 46% owned by Radian Group LLC, which is a joint-venture with MGIC. Radian also owns “Enhance Financial Services Group” of New York. Enhance is also a joint-venture partner with MGIC in the notorious collections company, Sherman Financial Group LLC. ( To learn more about Sherman and its related operations, visit: http://www.budhibbs.com/debtcollectorpages/alegis_corp.htm ) Litton’s litigation history demonstrates the actions borrowers who can afford an attorney are forced to take in response to some of the typical worst-case behaviors, notably ignoring QWR letters and failing to provide payoff information for borrower refinancing. Their accomplices in some of these include well-known foreclosure mills. As with many cases, litigants usually end up in mediated settlements so admissions of wrongdoing are rarely obtained. |
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Larry Litton, Sr. Larry B. Litton, Jr., President & CEO
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Headquarters: 4828 Loop Central Drive
www.littonloan.com
Customer Service Department |
