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 […]
Symbol Of America’s Post Industrial Collapse Is Up For Tax Auction After a nearly two decade dispute over who owns the 40 acre 42 parcel site of the dilapidated symbol of America’s post industrial decline that has been sitting virtually empty since the Packard Automobile Company stopped building automobiles there in 1956, the city of […]
Detroit Urban Spartacus Kelly Parker Reminded Us Of What We Can Accomplish If We Stand Up And Fight In the dystopian post-industrial ruins of Detroit where hundreds of thousands of people fight to survive, Urban Spartacus Kelly Parker rose above the poor timid souls that inhabit what was once the “Arsenal of Democracy” This […]
BofA Is Circumventing National Mortgage Settlement By Selling Servicing Rights To Unregulated Servicers “Are you aware of the fact that your bank is turning its customers over to a processor that based on the complaints posted appears to not only lack basic competency but also poor customer service? Many of the complaints are former BofA customers, […]
Michigan GOP Sponsored Foreclosure Bills Would Cost Banks Money & Would Not Speed Up Foreclosures As I wrote about last week, the Michigan GOP dominated Michigan Legislature is using legislation written by the Michigan Bankers Association and lobbyists representing foreclosure mill operator David Trott to shorten Michigan’s post Sheriff’s Sale redemption period from six months […]
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