Details of HSBC unit HMC
HMC is a wholly owned subsidiary of HSBC, which is a subsidiary of HSBC Holdings Plc. HMC is located in Depew, NY, with a subprime collections unit in Elmhurst, IL. In addition to its U.S. locations, HMC has operations in HSBC’s group service centers (GSC) in Bangalore, India and Manila, Philippines.
The GSC sites perform a portion of new loan setup and data validation, account reconciliations, payment and payoff processing, suspense processing, insurance processing, inbound customer service calls account maintenance, ARM audits and processing, discharge research and processing, inbound and outbound collections calls for prime loans, and foreclosure and bankruptcy setup and monitoring.
As of June 30, 2007, HMC serviced more than 454,000 loans totaling $68.4 billion. HMC’s portfolio includes approximately $44.9 billion prime loans, $9.3 billion Alt-A loans, and $2.2 billion HE/HELOC loans, and $3.2 billion subprime loans. You can do the math but about $8 billion is missing from the total breakdown.
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