Household HSBC Watch

Today a newly published Mortgage Glossary of mortgage related terms was published in easy to understand terms. This mortgage glossary takes a standard term and, after to basic definition, explains it so real people can tell what it means. The author uses good examples. Discussions are underway to incorporate the mortgage glossary […]

As the subprime market declines and loan losses mount, third parrty mortgage brokers are having a tough time of it. Like many realtors, mortgage brokers are unemployed but don’t know it yet. Fired by companies that once funded them, mortgage brokers are casualties of risk management. Lenders like HSBC and Wells Fargo […]

HSBC’s U.S. mortgage operations, which cater to a riskier clientele, may face deeper problems on about $9 billion in adjustable-rate mortgages. HSBC has tightened lending standards and made a number of management changes to minimize losses. The company also is reaching out to homeowners most likely to have problems with higher payments. HSBC and […]

Further proof that the John Bond - William Aldinger Household International deal of almost five years ago was a stinker is about to slap HSBC hard. Left to there own predatory devices Household International would have gone bankrupt in 2003. As proof of how bad Household International was, it took most other […]

Pretty soon HSBC Finance and HSBC USA may be stuck with all the subprime business. Wells Fargo is closing its subprime business. This means it may be even harder for HSBC to find a buyer for its subprime and consumer lending operations unless they sell to an overseas investor who can benefit from […]

One complaint to Household - HSBC Watch simply said “My interest rate was suddenly increased over the last 6 months. Also my bill indicates a late payment when all of my payments have been on time.”

In that case the person mailed their credit card payment to HSBC on the 7th of the month and it […]

According to Reuters, Hong Kong stocks arrested a three-session record streak on Wednesday, taking cues from steep falls on Wall Street, as investors shed HSBC Holdings Plc on worries that rising defaults in the U.S. subprime mortgage market could dent the global bank’s profit.

Could dent profits? Like it has not done so […]

U.S. stocks took a beating yesterday largely because poor earnings from Countrywide. one of the nation’s largest mortgage lenders. There are renewed concerns about whether the housing downturn could damage the broader economy. At Household - HSBC Watch we say it will, as higher fuel prices and less cash flow is not hard […]

July 24 — European stocks fell to a four-week low after disappointing earnings from the largest U.S. mortgage lender pushed financial shares lower and the U.K.’s worst floods in 60 years weighed on retailers. HSBC Holdings Plc, BNP Paribas SA and Axa SA paced declines by banks and insurers after Countrywide Financial […]

HONG KONG — HSBC Holdings PLC plans to restructure its personal-banking operation in Hong Kong and the Asia Pacific region into two separate operations, Ta Kung Pao reported Tuesday. The newspaper cited Hongkong & Shanghai Banking Corp. Chairman Vincent Cheng as saying the split will make it easier for HSBC to focus […]