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 …

HSBC Is Worst Performing Stock, led by U.S. questionable lending

How long before HSBC employs a cohort of burly bailiffs to chase up debtors? Bad loans hang around the neck of the world’s third-largest bank like an albatross. Most of it comes from former predatory lender Household International which is still in business as HSBC Finance Corporation. And HSBC is buying more higher risk loans. …

Champion Mortage's portfolio acquired by once shady lender

A nightmare for homeowners everywhere might be in the near future as HSBC Finance Corporation bought Champion Mortage’s portfolio recently. You may remember HSBC Finance by their old name – Household International – and the nation’s largest predatory lending settlement. Or perhaps you recognize the from racketeering charges with their high interest rate tax loan …

Sub Prime Mortages put H&R Block in Hole

HSBC’s high interest tax loan partner H&R Block Inc. lost $156.5 million during its second quarter, nearly twice its loss from a year ago, primarily because of weaker results in its mortgage business. The Kansas City-based company said it continues to weigh a sale or spinoff of its Option One Mortgage business, which makes home …