Difficulty meeting higher house payments, Mortgage Payments

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 …

HSBC U.S. Business Update – Executives Lose Performance Bonuses

HSBC’S top executives are to lose out on their lucrative performance bonuses this year as a result of the chronic underperformance of the company’s shares. Britain’s biggest bank has been one of the poorest performing stocks in the FTSE100 index this year, and one of the worst performing bank stocks in the world, because of …

HSBC feeling pain as more homeowners default in U.S

WASHINGTON – HSBC Holdings PLC, the world’s third-largest bank, said yesterday it will be hurt by its exposure to controversial mortgages that helped spark the U.S. housing boom, but which are now coming up for renewal. The London-based bank is expected to be the first in a long list of major residential mortgage lenders in …