Household HSBC Watch

This is another update from our friend Curtis: “Please be advised of the following. I am currently involved in taking legal action against HSBC Mortgage Services Inc. in Brandon Florida.

My current mortgage was audited and found to be in violation of TILA, RESPA, HOPA and the Fair Trade Practices Act. The loan as […]

It seems the FSA is busy in London. What theme seems to run through this article? It suggests there is a big difference between Islamic Finance in the Middle East and people named Mohammed running fraud schemes in London. In March, the FSA banned Andrew Talai Kiplimo, a mortgage introducer (a person […]

It looks like our government is trying to make us think they are doing something about mortgage fraud. More than 400 defendants were charged by federal prosecutors Thursday in connection with alleged mortgage fraud over schemes carried out since March, said to have resulted in about $1 billion in losses. In a probe […]

This is a classic example of how the subprime mess spun out of control. It is a classic example of how state regulators are continually frustrated by federal regulators and their desire to overrule state-level laws. Anyone who thinks they can get results from a local Better Business Bureau, when federal and state […]

Alex Hungate said: “I want to help HSBC grow by maintaining a relentless focus on the needs of its customers. In this role, with its combination of global leadership of the Personal Financial Services business plus the marketing function, I want to ensure that our services always deliver on the powerful promise of the HSBC […]

When HSBC lost money due to HSBC Finance the bank worked very hard to turn a profit elsewhere. Developing nations held the wolves at bay as those opposed to HSBC’s Household International remain posed to file suit if the bank turned shareholder profits into a loss. Others may still file suit claiming $10.6 […]

Although many claim HSBC already knows what their quarterly results might be, publishing the information is another story. The Securities and Exchange Commission is also looking at subprime mortgages. The worry at HSBC is HSBC Finance, formerly Household International, and HSBC USA.

Rising interest rates, combined with falling home prices, have caused many subprime […]

A group of hedge funds is telling the U.S. Securities and Exchange Commission to be on the lookout for manipulation of bonds backed by subprime mortgages.

Paulson & Co., based in New York, told the SEC that investment banks may pay inflated prices to buy bad loans that are collateral for bonds, said Michael Waldorf, […]

An amendment disfavoring protection of the debtor’s principal residence was added to bankruptcy laws in 1978. At that time home mortgages were nearly all fixed-interest rate instruments with low loan-to-value ratios and were rarely themselves the source of a family’s financial distress. As a result, bankruptcy law singled out the home mortgage loan as […]

NEW YORK, Aug 9 (Reuters) - A federal appeals court ruled that Bank of America Corp., HSBC Holdings Plc and Sterling Bancorp must defend against a lawsuit related to a lawyer’s Ponzi scheme that defrauded Orthodox Jews and others out of millions of dollars. A three-judge panel of the U.S. Second Circuit Court of […]