Perhaps there is a mortgage servicer that likes to call homeowners more than HSBC does. Saxon Mortgage Services Inc, a company rated as a perfect failure – F-rating – by the Fort Worth BBB, and similarly rated by many homeowners, is getting a new watchdog and consumer advocacy group to watch their misguided antics. With help from experienced watchdogs at Household – HSBC Watch, a new website has been registered. Complaints should be filed now, if Saxon and parent company Morgan Stanley want to file a protest. Start your whining and legal antics if you so desire. Otherwise SaxonWatch.com will start programming, thereby exposing this shady bunch.
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I propose a new initiative for HSBC customers, for the months of January, February, and March 2009. I call the initiative “Guidelines for paying HSBC in 2009” and it involves how to send your payments to HSBC in 2009 using priority mail and delivery confirmation. Please read this carefully and entirely!
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WK in Illinois said: “I have followed the entries on your website for several years and I can understand why HSBC customers and employees feel the way they do. I was employed at HSBC for 10 years in the HFC and Retail Services divisions of Household International which later became HSBC Finance. What I witnessed was a culture that views employees as exploitable and customers as mere consumers of product. The culture there is indeed a horror story where anyone who is capable of thinking critically is considered a pariah. It is no wonder that we are experiencing an economic crisis of such magnitude that the taxpayers are forced to bail out these predatory bottom feeders. And of course, was Household’s former CEO Bill Aldinger ever forced to account for his actions? No, he got a parachute.”
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This time state attorney’s general are asking HSBC Finance for something other than evidence of predatory lending. They are asking for help. What will be the result if requests are ignored? History shows that HSBC Finance was Household International, which was purchased by HSBC in 2003. Prior to that Household was sued by AG’s in almost every state. The allegations were predatory lending, and Household settled for $484 million.
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