Tag Archives: HSBC

Attorney Joel Jensen discusses a recent proceeding involving violations of a bankruptcy rule. Learn the latest and how it could impact the industry.

Editor's note: This piece originally appeared in the August 2020 edition of DS News, now available. Raman Muralidharan, EVP and Head of Mortgage, HSBC has been with the bank for more than 16 years, has been Head of Mortgage for ...

Here’s what an OCC report on the disclosure of mortgage loan data of some of the largest banks in the U.S. revealed about the number of foreclosures initiated by them.

The Department of Justice reached a settlement with HSBC over legacy claims on RMBS that were issued by the bank between 2005 and 2007. Here are the details of the settlement.

The Office of the Comptroller of the Currency released its first quarterly Mortgage Metric Report for 2017, detailing servicing data for seven major national banks. See how they fared compared to last quarter.

HSBC has fulfilled its obligations under the National Mortgage Settlement (NMS), according to a compliance report released on Wednesday. The report is the second of its kind released on the bank since February of last year, when HSBC initially agreed to a $601 million settlement with several federal agencies and U.S. states regarding questionable servicing and foreclosure practices. Today’s report revealed HSBC has now met all requirements outlined in that February 2016 settlement.

BlackRock Inc., along with 23 other investors of residential mortgage-backed securities, petitioned New York federal Judge Lorna G. Schofield to hear oral arguments to advance their case to class status as they seek to collect over $3 billion in lost assets from HSBC. The initial suit claims that HSBC did not do its due diligence in protecting certificate holders, and that they failed to ensure the home loans being sold from mortgage originators and sponsors to the trust were only selling debt from credit-worthy borrowers. The plaintiff’s claim that HSBC’s direct neglect was the cause of loses when default rates hit their peak during the housing crisis.

An independent monitor for the 2012 National Mortgage Settlement has issued a report that SunTrust has fallen short in the progress with the NMS requirements, while HSBC’s first monitor report has passed with flying colors.

The Department of Justice (DOJ) announced Friday that HSBC Bank has reached a settlement with several federal agencies and almost every state attorney general regarding "mortgage origination, servicing, and foreclosure abuses."

A New York court has dismissed a lawsuit filed by the state's attorney general against HSBC Mortgage Corporation nearly two years ago which alleged that HSBC failed to follow the state law related to foreclosure actions.