HSBC Horror Stories

JF in Virginia said:
“Back when we were desperate to refinance because we had a hardship we decided since we had a loan with Beneficial (subsidairy for HSBC) we would go with them again. At the time were facing foreclosure possibly and had late fees that we were getting behind in. So I called […]

MR in Arizona said this informative copy of his long letter: September 13, 2008
Arizona Department of Financial Institutions and all in CC list.
2910 North 44th Street, Suite 310
Phoenix, Arizona 85018

RE: Loan number: (redacted) HFC-HSBC
• Predatory Lending Practices
• Misrepresentation of lending […]

WM in Ohio said: “This covers 3 topics, the future of HSBC, HSBC insurance and customer responsibility. At this point, HSBC in USA plans on FHA loans and adding Auto Finance to states that currently don’t offer it. I’m not certain that this will save their financial woes in the US.

On the insurance matter, […]

SS in Ohio said: “HSBC??? I will do my homework about them from now on. I will NEVER do any business with them or any of their affiliates ever again. We suffered a hardship and tried working with them to save our home and for the first few months we got nowhere because we […]

This was received from New York state and is the opinion of the person who submitted it, who shall remain anonymous: “D9 abuses from a former Presidents Council employee.
1. Stated income equals FAKE income. An unfortunate truth was that 90% of all loans written using this partial stated income program was false. Daniel […]

RG in Arizona said: “Do not use HSBC for mortgages or refinancing unless you love to go through hell and lose money. I have investigations ongoing from state and federal agencies along with the better business bureau into the business practices of HSBC Bank, Mortgage Division. The complaint concerns two issues:
1.) Deceptively assuring customers […]

CF in Connecticut sends a welcome, well written, detailed follow-up to his ongoing battle with HSBC:
“This another follow up to the on going battle with HSBC regarding my mortgage. AS I stated in earlier posts my loan has been found and verified to be in violation of Truth in Lending, RESPA and HOPA. HSBC has […]

CM in Indiana said: “I worked for HFC/BFC/HSBC for 5 years in one of their call centers. I saw so many wrong doings with peoples financial lives. There wasn’t a person, a household on the other end of the phone, just fresh meat.

The management there and company wide didn’t have […]