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 […]

The following is reprinted with permission. We thank Peter for keeping us updated. If you think you know your bank, or if you bank at HSBC you need to read this article. I personally think this is the business model HSBC Finance would adopt in the United States if it was legal. […]

Here at Household - HSBC Watch we receive complaints every day. Some involve pre-payment penalties on home loans that trap the buyer, preventing refinancing or otherwise putting the buyer upside down in the home. That may soon change according to Federal Reserve Chairman Ben Bernanke.

“Although the high rate of delinquency has a number […]

A tenacious reader of our website, and an angry mortgage customer of HSBC sent some good advice. This gentleman is a planner, and he organizes meetings to get the desired results. It is very true that HSBC Finance does not know where a telephone call is coming from. The HSBC guidebook says […]

We all know HSBC is laying off personnel at Beneficial Finance and HFC offices. That is no secret. How it is being handled is fast becoming public knowledge, as reports are coming in. Some HSBC tactics are alarming. Please evaluate this statement:

“I was a District Sales Manager (executive level position) that […]

Here is positive proof that a person can be successful after running a subprime operation for HSBC while losing billions of dollars. Originally with Household International, which was charged with predatory lending and later purchased by HSBC, many thought Siddarth (you can call me Bobby) Mehta was in over his head. Mehta was […]

Further proof that the John Bond - William Aldinger Household International deal of almost five years ago was a stinker is about to slap HSBC hard. Left to there own predatory devices Household International would have gone bankrupt in 2003. As proof of how bad Household International was, it took most other […]

WASHINGTON - Bank regulators issued new standards for subprime mortgage lending on Friday that includes several new consumer protections. Subprime borrowers should not be penalized for refinancing out of a mortgage before the interest rate resets to a higher level, according to a statement of principles issued by the regulators. The guidelines also […]

In the U.K. tens of thousands of new graduates will be hit by overdraft interest payments after HSBC announced plans to become the first high street bank to scrap free borrowing for university leavers.

Traditionally, banks allow new graduates a three-year interest-free period on their student overdrafts so they can clear the balance. But students […]

In a blow to HSBC Finance Corporation and other large sub-prime mortgage lenders the federal government in the United States is considering regulations many thought should have been in place for many years. A “day late and a dollar short” according to consumer advocates, it is not the regulation, but action against shady lenders […]