HSBC Loses Key Personnel To Rivals

Proof that more bankers wish to distance themselves from HSBC, HSBC Finance Corporation, and allegations of predatory lending is apparent. As fewer banking professionals wish to associated with HSBC and sub-prime loans competitors hired HSBC top brass. JP Morgan hired George Foussianes, who was head of Americas global banking for HSBC and oversaw investment banking, …

HSBC Claim Questioned As Mortgage Defaults Continue

HSBC claims to have sub-prime mortgage problems under control. Changes in top management at HSBC Finance Corporation do not address the problem, however, according to other sources. WASHINGTON, June 14 — Delinquencies and foreclosures among homeowners with weak credit moved higher in the first quarter, particularly in California, Florida and other formerly hot real estate …

US Mortgages At $10 Trillion

According to Randall Bauer, a fixed-income portfolio manager at Federated Investors, the total U.S. mortgage-market value is estimated at $9.5 trillion to $10.5 trillion, with about 15% of the total represented by subprime assets. While the problems for subprime borrowers and lenders appear clear, the impact on mortgage bondholders depends on a variety of factors. …