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 into The History of Subprime and Predatory Lending, published by the owners of Household - HSBC Watch.
Archive for » July, 2007 «
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 can control risk if the potential borrower walks in to a brick and mortar location.
Category: 2007 HSBC
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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 other lenders are modifying payment terms to offset a sharp rise in delinquencies and defaults.
Category: 2007 HSBC
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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 subprime lenders until 2007 to go bankrupt. But HSBC rescued Household International. Look for sharehold lawsuits against HSBC in 2007 - 2008, as legal experts prove HSBC did not perform due diligence prior to the purchase.
Category: 2007 HSBC
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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 a weak dollar.
Category: 2007 HSBC
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