CF in Connecticut updates us with this information about HSBC and Accredited Home Lenders: “As everyone who reads the postings here knows I have been fighting HSBC for well over a year. I just received additional ammunition in my fight. HSBC, as has been documented, bought many loans from brokers and smaller lenders sight unseen and unchecked, basically in mass.

One lender in particular was Accredited Home Lenders, my loan originator. In my fight with HSBC I have stated repeatedly that my loan fails to meet federal guidelines and was in fact violating the law. HSBC knew that there were problems with loans from this lender and stopped buying them in April 2007. At one point a paralegal at corporate made a statement on hearing my intention to sue, “Oh no not another Accredited loan.”

Based on this information and in conjunction with the settlement made by Accredited and the above statement, HSBC was fully aware that many loans from this lender had problems. By continuing to service the loans, collect money, bringing foreclosures and in general lying about the legality of the loans, HSBC has openly and knowingly committed fraud and continues to commit fraud.

HSBC in its grand scheme, chose not to address and fix the loans as allowed by law and within 60 days after discovering errors or mistakes under RESPA has accept full and complete responsibility under TILA, RESPA and HOPA. Further it can be stated that HSBC chose to collect money not due, while knowing full well that the loans are illegal or fail to meet federal guidelines, again committing fraud. I can assume that HSBC hoped that individuals with these loans would continue to make payments totally unaware that the loans failed to meet requirements, and to fight those one on one who did complain or foreclose on those who were unaware of the laws that protect them.

The ammunition that I speak of is this. I just received in the mail a settlement claim form from a class action suit against Accredited Home Lenders. The class action basically states what I have claimed since August of 2006. My loan is illegal and Accredited wrote bad loans, sold them to HSBC and ran. HSBC, after finding out that loans were bad, ignored them and continued along their merry way.

HSBC has stated over and over again after checking my loan that my loan is fine and nothing is wrong with either the loan or it documents. Well based on statements made in the settlement as to wrong doing, audits done of my loan, letters and faxes from HSBC personal a jury will have little problem deciding any wrong doing in this matter.

Therefore I again stress to anyone having a loan originated by Accredited and being serviced by HSBC have the loan audited, if you have concerns with HSBC’s handling your account or have complaints do not hesitate to contact the following.

OCC- Supervises HSBC and can force action
Your Attorney Generals Office, but understand that Attorney Generals can not defend single or individuals. They can upon receipt of many complaints take legal action on behalf of the people.
THE FTC, again can not defend individuals, but upon many complaints take action as they did with Fleet Financial, Fairbanks and others.”