HSBC may be involved in more fraud. They claim they monitor mortgage fraud but this one suspects they may be perpetrating it instead. Here is a customer report:
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Nebraska residents experiencing problems with HSBC’s Household Finance, Decision One Mortgage, and Benficial Finance are encouraged to contact the Nebraska Department of Banking. One may do so online here.
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Radian Guaranty announced Monday results of a recent survey of adults nationwide, of whom two-thirds own their current home and 47% have a home mortgage. The study revealed that 52% of the participants said they were no more than somewhat knowledgeable about the mortgage options available to them at the time they purchased their homes, according to the announcement.
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Thursday, December 01, 2005 11:31 p.m. ET
By ROBERT TANNER AP National Writer
OCEAN SPRINGS, Miss. (AP) — Like many homeowners around here, Janet Kisling owes a pile of debt on little more than a pile of debris. She has a $1,000-a-month mortgage on a home that is uninhabitable.
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Of Decision One, HSBC writes: “While Decision One makes the final credit decision on these loans, the mortgages are sourced by a network of independent brokers, rather than retail branches open to consumers.” HSBC goes on to make a final distinction: “The lending model of HSBC Mortgage follows a substantially different business model, and offers a different product mix, than HSBC Consumer Lending or Decision One.”
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