HSBC Horror Stories

SK in Kentucky said: “Here is a copy of our 5th and most recent letter we sent last week to Beneficial/HSBC. We got the wording from another watchdog site and the HUD website:

Dear Beneficial/HSBC;
This is a “Qualified Written Request” under Section 6 of the Real Estate Settlement Procedures Act (RESPA). We are writing to […]

A friend in Virginia said this about attempting a short sale and his dealings with HSBC:
“Through job loss and a long period of serious illness that had a devastating impact on our finances, my wife and I found ourselves in a situation where we feared we would not be able to continue paying for our […]

VH in Oregon said: “I am frustrated…I have received paperwork from a HSBC subsidiary mortgage company called Solstice Capital that has fradulent information about me on it. I tried to contact Solstice and their answer was to offer to take me off their mailing list but there was nothing they could/would do to […]

BW in South Carolina warns: “After considering bankruptcy, we were forced to tell HFC to accept our offer or take our home. To say the least, this was a very gut-wrenching time for us. When they agreed at the last minute, we thought we had finally detached ourselves from the scum balls that […]

PP in Alabama sends this short report: “My account should have been closed in 2001 but it’s still showing on on the credit report as inactive, not closed.”

Editor’s Note: HSBC Finance, which is the old Household International group, reports to all theree credit reporting agencies in a slightly different manner. Customers report […]

An HSBC employee in New York sent this: “I am an employee at the HSBC mortgage center in Depew, NY and I must say this is the most unethically run company I have ever seen. The mortgage center is run like a collection call center. The layers of management at the supervisor level are […]

The Federal Reserve Board released the final statement of federal regulatory agencies on subprime mortgage lending recently. The release was done on behalf of the Federal Reserve’s Board of Governors, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, Office of Thrift Supervision, and the National Credit Union Administration (the Agencies.)

During […]

For a banker - or a finance company predator - getting fired isn’t all that bad.

Do you feel sorry for Bobby Mehta and Sandy Derickson, summarily fired from HSBC for their connection to the bank’s catastrophic foray into high-risk US mortgages?  Why should you? They had been paid $40 million (£20 million) in performance-related bonuses.

In […]