Sunday, March 6, 2011

HSBC Suspends All U.S. Foreclosures After Regulators Note Use Of Crappy Paperwork In Processing Legal Actions

Bloomberg reports:

  • HSBC Holdings Plc, Europe’s biggest bank, has suspended U.S. foreclosures following a joint examination by the Federal Reserve and the Office of the Comptroller of the Currency. The regulators issued letters noting “certain deficienciesin the processing, preparation and signing of affidavits andother documents supporting foreclosures” at HSBC Finance Corp. and HSBC Bank USA, the London-based lender said yesterday in its annual report.

For more, see HSBC Halts U.S. Foreclosures After Joint Examination by Fed, OCC.

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