Household HSBC Watch

Rep. Brad Miller, who—along with a handful of other Democrats—is urging the mortgage industry to delay certain foreclosures until the FHA’s “Help for Homeowners” gets going. The program is a key component of the new housing legislation and is intended to help struggling barrowers stay in their homes. Brad Miller contacted HSBC Finance. […]

NAACP members are raising awareness about lending discrimination at 17 lending institutions. HSBC released the following statement regarding the NAACP to Eyewitness News: “HSBC Finance Corporation does not comment on litigation. However, at HSBC Finance Corporation, we take our fair lending and consumer protection practices very seriously, and we are confident that we […]

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. […]

AK in Oregon sent this op-ed piece. We are publishing it here instead of in our complaints blog:
“HSBC- predatory lenders who slam insurance, offer over market rates and fees, and treat employees with disrespect.

When I started working at HFC I was just out of college. I was excited to have a job […]

The following information pertains to the right to recind an agreement between HSBC and a customer. It is quite lengthy, but very interesting. The information comes from the FTC and OCC, respectively, according to the submitter. Case law is included:

I. TILA & Res Judicata
(Analogous to Mr. Curtis xxxxxx , […]

Eric Stein, senior vice president of the Center for Responsible Lending, said lenders who made high-interest rate loans to borrowers with weak credit are to blame for pushing homeowners into financial peril.

The Durham, North Carolina-based center projects that 2.2 million families will lose their homes due to a growing crisis in the subprime mortgage market […]

Standard & Poor’s Ratings Services said Friday it placed H&R Block on credit ratings watch for a possible downgrade, citing potential trouble for the company’s mortgage lending unit amid a crisis in the subprime market.

“Upheaval in the subprime mortgage market has depleted the results” of Block’s Option One Mortgage Corp. unit, S&P said.
H&R Block’s Option […]

Traditional credit scores haven’t done a good job in accessing risk for non-traditional mortgage products such as interest-only loans and option adjustable rate mortgages, says a senior executive with HSBC Holding Plc, a British international banking giant.

In discussing trends in HSBC’s U.S. mortgage business this year, company officials this week told analysts that they expect […]

HSBC’s high interest tax loan partner H&R Block Inc. reported a bigger net loss during its fiscal first quarter late Thursday as the tax-preparation company was hampered by loss provisions of more than $100 million in its mortgage-services business. The company said that it had a net loss of $131.4 million, or 41 […]

2005 Primary Mortgage Servicer Study Released - Monday, August 08, 2005 - (excerpt of the full article by Household - HSBC Watch). Evidenced by key factors we see where HSBC (Household International) fails in areas that are most important to consumers relative to pesonal and family finance. “SunTrust Mortgage performs particularly well in […]