• Report: #245293

Complaint Review: HSBC MORTGAGE SERVICES

  • Submitted: Mon, April 23, 2007
  • Updated: Tue, November 27, 2007

  • Reported By:manchester Connecticut
HSBC MORTGAGE SERVICES
636 Grand Regency Boulevard Brandon, Florida U.S.A.

HSBC MORTGAGE SERVICES Payoff Fraud and false statements ripoff Brandon Florida

*Consumer Suggestion: Coming Together

*Author of original report: Update

*Author of original report: Additional Customer comments

*Consumer Comment: I have problems with them, too

*Author of original report: Customer follow up

*Author of original report: Customer follow up

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It began in August of 2006. I attempted to refinance my mortgage being held by HSBC Mortgage Services. As required the new lender contacted HSBC requesting a payoff.

Well it took 6 calls from the lender and 5 from before a statement arrived. The new lender called and stated that HSBC was requesting as part of the payoff $5991.00 in defered interest. I requested a copy and looked it over. I then contacted HSBC and after 6 calls finaly reached a person who at first seemed like they new what they were doing. The individule stated that he would forward my request to the "RESEARCH DEPARTMENT" to get answers. Well after 6 weeks no answer arrived.

Also do to the refiance attempt I had fallen behind 1 payment. I called in the payment on 9/13/2006 and the regular payment on 9/27 and Octobers payment on 10/12/2006. When I called in the payment in October they claimed I was behind another payment. I checked bank records back to December 2005 and could not find a missed payment.

I at this point demand an activity report going back to the begining. My loan wa purchased by HSBC from another lender. It took several phone calls and several weeks for the report to show. I reveiwed the report and that's when things started to show up. The first and most glaring was that no money had been applied to principle since 08/2005, it was now 10/2006. The second was that money that should have been applied to principle was dirverted to pay defered interest.( the same interest claimed on the payoff) Secondly 11 payments were by actual bank statements were electronicaly withdrawn by HSBC, not 9. I filed a banckruptcy in 10/2005 and was discharged in 12/2005.

AS part of the banckruptcy a reafirmation agreement was signed and three payments were to be moved to the arrears of the loan. They weren't. As soon as payments began in 12/2005 HSBC took money to pay the three payments( the same defered interest as listed on the payoff). At this point I stated that I would file a RESPA complaint and file court action. Well HSBC could care less about RESPA.

After fighting a losing battle with HSBC, I then went to a state sponsered Foreclosure program and applied for help. Because at this time I had fallen behind by 3 months. I was approved for the program. All that HSBC had to do was contact the agency and supply the information for hte back payments. I waited another month and no reply from either the agency or HSBC. I contacted the agency and was informed that I was now denied because no information was received and no contact was made to anyone in the agency in no shape , way of form.

On 02/28/2007 a letter arrived at my house from HSBC stating the contacted and spoke to the agency and gave information required. I contacted the agency again and faxed a copy of the letter to them. I received back from the agency management that HSBC lied and no contact was ever made by the agency personal and HSBC. They, the agency has supplied a sign letter stating this fact.

I received a pay off statement in 12/2006 and deferinters was now $7000.00. I received a payoff statement in 02/07 and the interest had risen to $10,000.00 in defered interst. To add injury to insult HSBC has failed to file one single report with any credit reporting agency since October 2005. Finaly feed up with this I filed complaints with the FBI White Collar Crime Unit, the state Attorney Generals Office and the state Banking Commissioners office claiming fraud, false statements.

Oh , HSBC has also filed foreclosure procedings in court and I counter filed claiming fraud as a defense and filed under title 15 USC the extend right to rescind and rescinded my mortgage. Because of the damages caused by HSBC, I will also file a civil suit using a recent Texas court action seeking undetermine damges. Also beware of rebuttles that orginate in Brandon Fl., that is were HSBC has its offices.

Curtis
manchester, Connecticut
U.S.A.

This report was posted on Ripoff Report on 04/23/2007 06:11 AM and is a permanent record located here: http://www.ripoffreport.com/r/HSBC-MORTGAGE-SERVICES/Brandon-Florida-33510/HSBC-MORTGAGE-SERVICES-Payoff-Fraud-and-false-statements-ripoff-Brandon-Florida-245293. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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REBUTTALS & REPLIES:
0Author 6Consumer 0Employee/Owner
Updates & Rebuttals

#1 Consumer Suggestion

Coming Together

AUTHOR: Lynn - (U.S.A.)

I've read alot of reports about these greedy thieves.My husband and I are also
victims of this so-called bank business and suffering for it.Long story short,when I
came across your report,it immediately put chills up my back.Why?Because we had
re-fied in 01/2006 with Accredited Home Lenders and they immediately sold our
loan to HSBC,with the ones in Brandon,Fl.,just like yours.We had NEVER even heard
of HSBC.We started to make our payments in March 2006 to Accredited,as noted in
the re-fi,and all of a sudden in April 2006,we re-ceived a letter in the mail from
HSBC stating they had purchased our loan and that our payments would be due to
them now.I asked for the date they purchased it and they couldn't even make up
their minds.

Finally,(Christina Modeme) stated the date of purchase was in January,
so the rest is history.I will tell you this.When I asked several times why did they
(HSBC) wait all the way to April to notify us,that is where the war began.Note: I
still have the letter.In fact I have EVERYTHING! I'm a keeper on these sort of things
and I also have 4 back to back recorded conversations with these theives.
I'm replying to this in hopes of staying in touch.Why? Be-
cause if more Americans would put their differences a side,put their egos a side
and stick to-gether,more people could keep their homes instead of losing them.And
just maybe there wouldn't be so many out on the streets.Please,if you'd like to
stay in touch,call me T.I won't put my name on the internet.
At this point,me and my husband are both disabled,and can't afford a high class lawyer.Chapter 7 went through,but our home is still being forclosed on.So please,let us know what happens in your case.Or if there is any-
thing you could help us with.
People don't realize that HSBC and other Predatory Lenders are buying the law.That's how they keep taking people's homes from them!
It's going to take good honest Americans to come together on this and stay to-
gether fighting them.
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#2 Author of original report

Update

AUTHOR: Curtis - (U.S.A.)

As an n update to the ongoing HSBC saga, I am now in court. I am suing HSBC for violations related to TILA and RESPA. HSBC was issued a valid and legal Right to Rescind Notice on 04/04/2007. HSBC responded by stating that they reviewed the account and my claims and decided that they would not rescind the mortgage. My claim to the notice was in fact that the loan was under disclosed and understated. The loan was audited by an independent 3rd party and found that the Truth in Lending Disclosure statement contained false and misleading information, figures and payment schedules were wrong or missing.

The audit also produced figures indication what figures and amounts should have been listed. These figures and this report as well as the original documents were sent to HSBC. They claimed that my loan was correct and that the loan was in fact over stated. They again ignored the rescind notice and began foreclosure proceedings.

It was at this point I decided to fight back. I contacted the State Attorney Generals office, FTC, OCC, CT. Banking Commissioners office, Senator Dodd (ranking member Senate Banking Committee). As a result of this complaints and actions the foreclosure was stopped. Even in the face of overwhelming evidence, or the fact that investigations were underway, HSBC refused to accept the facts and respond as the law required.

I filed a counter claim in one court as a defense against the foreclosure, and began a civil suit in another court. While waiting for HSBC to respond to the summons issued regarding the civil suit, my mortgage was due for the first increase. A letter sent by HSBC arrived stating that my new increase was scheduled to start on 11/01/2007. In the letter it stated the new payment, interest rate and the scheduled start date. The amount listed on the TILA disclosure statement shows an amount of $1400.00. The new amount states the new amount as $1600.00.The new payment amount listed matched the amounts missing on the disclosure statement as indicated by the audit.

One week latter a statement was sent showing the same amounts as listed on the previous letter. The amount used by HSBC as the new payment shows beyond any shadow of a doubt that the loan is in fact understated and under disclosed.

As a further check I used 3 separate programs, one being supplied by OCC to verify the audit. All three came back with the same figures, payments schedules and total finance charged total payments and finance paid... All three produced the $1600.00 figure plus or minus a few cents that the audit produced. I then sent this information to HSBC. They ignored it. They again stated that nothing was wrong with the loan documents, and stated the new payment would be $1620.91 knowing that the disclosure statement shows $1400.00.

HSBC cares little for the consumer and even less when it comes to the law. HSBC uses the law when it is in their best interest, and ignores it when it is in the interest of the consumer. The loan was purchased by HSBC and not originated by them, but in doing research HSBC stopped buying any additional loans in April 2007 from the company that wrote my loan. It seems others have filed complaints with HSBC regarding loans purchased and written by this company. An employee at HSBC upon hearing that I was suing made the comment Not another Accredited Home Loan issue. This individual was a paralegal working in the home office.

HSBC is under fire across the world. It has set it self up as one of the worlds leading predatory lenders. It has by its own actions based on greed set its self for a major downfall. I advise every consumer who has a mortgage serviced by HSBC to have your loan audited. I also advise anyone doing business with HSBC to be very diligent in its record keeping, keep all correspondence from HSBC, record all telephone conversations (were legal) and if any wrong doing by HSBC is uncovered contact state and federal agencies, file complaints and take legal action. Understand that HSBC will not hesitate to use the law against you.
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#3 Author of original report

Additional Customer comments

AUTHOR: Curtis - (U.S.A.)

AS a third post to my on going saga with HSBC, the final autit has turned up additional problems. The next problem is that the amount listed as amount financed on the original Truth in Lending Disclsoure statement list the amount of $204,432.52. As it turns out they padded the figure by $3,197.77. The entire loan was for $210,000.00 even. The payout was $ to the prior lender was for $201,234.75, other closing cost totaled $8,765.25. Of the $8,765.25, $3,820.77 was for taxes and escrow. In effect they expect me to finance the remainder of the closing cost. The remainder included recording fees, lawyer fees, FedX fees etc. It also included a broker fee for loan origination of $2,321.00.

I need a real good lawyer that doesn't want $5000.00 up front. I am disabled and on a small fixed income. Thus far I have act in my own behalf but in need help.
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#4 Consumer Comment

I have problems with them, too

AUTHOR: Jeff - (U.S.A.)

In my case, HSBC has committed 7 counts of fraudulent credit reporting.

I talked to a lawyer, sent a RESPA letter.

They claimed to fix it, and sent me this written response to the RESPA letter:

"We have lost your mortgage files."

Even though they said they fixed the credit reports, they have reported to all 3 bureaus that the negative remarks were true and accurate.

I am in the process of suing them.

I agree that they are a big company that does not care if they mess up anyones credit. They probably figure they will get away with it because I wont want to pay court costs.

They will soon learn that they were very wrong with this assumption.

Because of them, we now have a mortgage that is way above what we should be paying, and we are stuck with paying mortgage insurance... an extra 492.00 additional monthly payment, and our mortgage itself is 1000.00 more than it should be.
We are now paying about 1500.00 extra because of them.

Keep in touch. If my lawsuit works out, I will let you know.
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#5 Author of original report

Customer follow up

AUTHOR: Curtis - (U.S.A.)

This to add to my orginal post. Since I posted the complaint against HSBC, I had a complete audit done of the mortgage note. And to add insult to injury it was discovered that the note was under disclosed by $294,303.54. This a proven fact by figures and lack of figures on the HUD settlement documents. As a result I am filling a $1.5 million lawsuit against HSBC.
Under disclosing the note is a major violation of truth in lending.

Word of advise. When in doubt have your mortgage note audited by a qualified specialist. Since having it done I found out that mortgage companies hide all kinds of ileagal fees, charges and kick backs in the HUD statements. Also as in my case under disclosing the cost of the loan.

Any good attorneys looking for a job.
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#6 Author of original report

Customer follow up

AUTHOR: Curtis - (U.S.A.)

This to add to my orginal post. Since I posted the complaint against HSBC, I had a complete audit done of the mortgage note. And to add insult to injury it was discovered that the note was under disclosed by $294,303.54. This a proven fact by figures and lack of figures on the HUD settlement documents. As a result I am filling a $1.5 million lawsuit against HSBC.
Under disclosing the note is a major violation of truth in lending.

Word of advise. When in doubt have your mortgage note audited by a qualified specialist. Since having it done I found out that mortgage companies hide all kinds of ileagal fees, charges and kick backs in the HUD statements. Also as in my case under disclosing the cost of the loan.

Any good attorneys looking for a job.
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