Mortgage-backed Securities

Mortgage-Backed Securities Abuses Cause HSBC Pay $765 Million

HSBC Agrees To Pay $765 Million In Connection With Its Sale Of Residential Mortgage-Backed Securities The United States Attorney’s Office in Denver announced today that HSBC will pay $765 million to settle claims related to its packaging, securitization, issuance, marketing and sale of residential mortgage-backed securities (RMBS) between 2005 and 2007. Federally insured financial institutions […]

Brooklyn Ponzi Scheme

Victims Of Brooklyn Ponzi Scheme Sue Banks For Turning Blind Eye

Victims Of Philip Barry’s Brooklyn Ponzi Scheme Sue JPMorgan Chase, TD Bank, HSBC and M&T Bank For $36 Million Phillip Barry who has been dubbed Brooklyn’s Bernie Madoff operated a Brooklyn Ponzi scheme that began in 1978 and conned investors out of nearly $40 million to invest in his Leverage group of companies. Philip Barry was convicted […]


RMBS Bond Holders Get Green Light To Sue HSBC For $34B

HSBC Stands Accused Of Breach of Contract And Concealing Defective Mortgage Loans In 283 trusts. On Monday, U.S. District Judge Shira Scheindlin ordered HSBC Holdings to face three lawsuits accusing it of breaching its duties as a trustee overseeing residential mortgage-backed securities that suffered more than $34 billion of losses in the global financial crisis. […]


HSBC Begins Scaling Back Operations In US

HSBC Sells U.S. Consumer, Homeowner Debt for $3.2 Billion Gavin Finch & Howard Mustoe of Bloomberg wrote a great piece about HSBC divesting in the U.S. banking market. They plan on selling the mortgage servicing portfolio and branches in major markets. HSBC Holdings Plc (HSBA), Europe’s biggest bank by assets, agreed to sell a portfolio of U.S. consumer […]


HSBC Whistleblower Details Funds To Terrorists And Drug Cartels

HSBC Is Reverting Back To its Roots Of Financing Criminals. HSBC Whistleblower Details How HSBC Funds Terrorists And Drug Cartels. HSBC Holdings’ Mexican branches had become so well-known to drug traffickers as the place to launder proceeds from illicit sales that cartels began using special boxes to speed transactions, US prosecutors said. From 2006 to […]

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