Shareholders, Others, Poised to Sue Over Subprime Losses

When HSBC lost money due to HSBC Finance the bank worked very hard to turn a profit elsewhere. Developing nations held the wolves at bay as those opposed to HSBC’s Household International remain posed to file suit if the bank turned shareholder profits into a loss. Others may still file suit claiming $10.6 billion is …

HFC and Beneficial Finance – Name Liability

As the subprime market declines and loan losses mount, third parrty mortgage brokers are having a tough time of it. Like many realtors, mortgage brokers are unemployed but don’t know it yet. Fired by companies that once funded them, mortgage brokers are casualties of risk management. Lenders like HSBC and Wells Fargo can control risk …

SEC Watches as HSBC Modifies Loan Terms

HSBC’s U.S. mortgage operations, which cater to a riskier clientele, may face deeper problems on about $9 billion in adjustable-rate mortgages. HSBC has tightened lending standards and made a number of management changes to minimize losses. The company also is reaching out to homeowners most likely to have problems with higher payments. HSBC and other …

HSBC Braces for Another Big Loss

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 subprime lenders until …

HSBC Finance Caused Their Own Problems

One complaint to Household – HSBC Watch simply said “My interest rate was suddenly increased over the last 6 months. Also my bill indicates a late payment when all of my payments have been on time.” In that case the person mailed their credit card payment to HSBC on the 7th of the month and …