In a deal that brings back memories of predatory lending at Household International, Massachusetts Attorney General Martha Coakley on Tuesday accused defunct subprime lender Option One Mortgage Corp. of using deceptive and discriminatory lending practices while under the ownership of H&R Block. The complaint filed in Suffolk Superior Court alleges that No. 1 U.S. […]
It looks like HSBC’s Household International could have more company in terms of predatory lenders. The Massachusetts attorney general’s office has sued Fremont Investment and Loan, once the state’s second-largest subprime lender, accusing it of using predatory lending practices to sell loans to some borrowers who eventually lost their homes or had to […]
Many have the same opinion about HSBC Finance Corporation / Household International. Cases and complaints are similar:
Reilly urges consumers to avoid Ameriquest
AG: Firm persists in unfair practices despite accords
By Kimberly Blanton, Globe Staff | January 24, 2006
Disclosing the details of a $325 million settlement between Ameriquest Mortgage Co. and 49 states, Massachusetts […]
Massachusetts Attorney General Thomas F. Reilly said his office has received 133 complaints about Ameriquest since 2002. Keep your complaints about Household International and HSBC coming, and let your attorney general know. With Household 48 states were involved. Thus far with Ameriquest 29 states are involved. Find your state attorney general here […]
August 3, 2005 - According to MortgageDaily.com, Ameriquest’s parent company, ACC Capital Holdings Corp., is the nation’s largest subprime lender, based on $82.7 billion in mortgage volume in 2004, including $3 billion in Massachusetts. Subprime loans are for people with credit scores too low for them to qualify for a traditional mortgage.
The litigation parallels charges […]
Why is predatory lender HSBC looking at college students and UMUC?
Having saturated the working adult population with credit card offers, credit card companies are now banking on a new market: college students. Under regular credit criteria, many students would not be able to get a card because they have no credit history and little or […]
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An open letter to HSBC, Knight Vinke and Stephen Green
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