Today’s 5 Complaints from real HSBC customers

AS in Maryland said: “I lost my job back in September 2008 and subsequently fell back on my mortgage payments. HSBC refused to modify my 12.375% second mortgage. I subsequently started making payments and HSBC applied those payments to the prior months I misssed and reported both the months I missed and the months I …

Subprime losses by bank in 2007 show HSBC at number 1

Today we look back at early 2007 to see HSBC as a major factor in US subprime. The SEC provided a list of subprime mortgage write-offs early in the crisis. HSBC held the number one spot. Without a doubt HSBC also attracted the attention of regulators. Here are subprime write-offs, listed by bank: HSBC – …

Subprime blame points at HSBC, other private lenders

According to Aaron Pressman, writing in Bloomberg BusinessWeek in 2008, Fannie and Freddie were victims, not perpetrators, of the housing crisis. Pressman writes that “virtually none of the $1.5 trillion of cratering subprime mortgages were backed by Fannie or Freddie … most subprime mortgages did not meet Fannie or Freddie’s strict lending standards. All those …