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February 5, 2016

Posted  February 11, 2016

HSBC Bank USA agreed to pay $470 million settle charges of mortgage origination, servicing and foreclosure abuses.  According to the government, “the agreement is part of our ongoing effort to address root causes of the financial crisis.”  The settlement parallels the $25 billion National Mortgage Settlement reached in February 2012 between the federal government, 49 state attorneys general and the District of Columbia’s attorney general and the five largest national mortgage servicers, as well as the $968 million settlement reached in June 2014 between those same federal and state partners and SunTrust Mortgage.  DOJ

Tagged in: Financial and Investment Fraud, Financial Institution Fraud, Housing and Mortgage Fraud,