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Articles

Category: General Finance
- Fannie Mae, Freddie Mac and RBS roundup
  Royal Bank of Scotland is eliminating 3,500 investment bank jobs and will sell or shut the bank's equities and advisory business under a 3-year plan to…
- Wells and USAA mortgage refi, credit card news of the week
  Thanks goodness for credit card reform. Compared to the old days it is really nice to get email reminders when a credit card payment is due. Confirmation…
- Programming of HSBC Watch completed
  HSBC Watch is now reprogrammed for 2012 under domain name hsbcwatch.com, a domain owned by Timothy Blake for many years. Blake defended ownership of hsbcwatch.…
- Bank layoffs might thrill Occupy Wall Street
  A recent article on Equities.com by Brittany Barrett tells us which Wall Street Banks are laying off the most people. Our Lender watch articles reflect layoff…
- Foreclosure and local government general funds
  An article referencing "Colorado Counties Foreclosure Fees" was forwarded to my desk, with a big question mark. What was my take on a madly spinning article?…
- New suit alleges deceptive foreclosure practices
  SPRINGFIELD, Mass. (WWLP) - This week, Massachusetts slapped a huge lawsuit on five major U.S. banks. The lawsuit claims the banks’ shady practices have…
- The Worst Banks and how one got away
  If the Occupy Wall Street protesters want to target a single big bank, which should they choose? One bank - HSBC - took huge losses after buying predatory…
- Elected officials facilitated financial crisis, profited nicely
  Senator Christopher Dodd (D-CT) was the largest recipient of campaign contributions from Fannie Mae and Freddie Mac in the past decade. Dodd also turned a…
- Capital One is a leading subprime lender
  After buying out HSBC, Capital One is likely to be the sole significant subprime credit card issuer in the US. It is also a leading subprime auto lender. But…
- Almost 9 percent of U.S. homeowners missed a payment
  The Mortgage Bankers Association said Monday that 8.44 percent of homeowners missed at least one mortgage payment in the April-June quarter. That figure, which…
- Federal Probe of Mortgage Lenders Goes Nowhere
  CHICAGO (Reuters) - Federal criminal investigations into failed mortgage lenders IndyMac Bancorp and New Century Financial Corp have stalled, the Wall Street…
- U.S. Secretary of the Treasury Tim Geithner Speaks
  By Tim Geithner Two and a half years ago, with our country on the edge of a second Great Depression, we met with the president in the White House to discuss…
- JPMorgan Chase ordered to apologize
  JPMorgan Chase had to publicly apologize before Congress to military families for the bank’s financial abuse of Americans fighting in Iraq and Afghanistan…
- Greek debt and U.S. subprime crisis similar
  The parallel between the Greek debt crisis and the subprime crisis is striking. Trashy debt is alchemised to gold through manipulations driven by a political…
- Lender Watch Network Center
  LenderWatch.org is the network center for six of our financial areas. As consumer advocates we monitor the mortgage industry, credit card industry, personal…
Category: HSBC
- HSBC unreported money laundering or terrorist financing
  While I wrote for the Household-HSBC Watch website I picked up on money laundering issues. The terrorist aspect came from Iraq at that time. As with any…
- Best Buy Stores and the HSBC Best Buy card
  Many americans are glad credit card statements are easier to read. New credit card laws greatly diminished abuses by banks. One such offender was (is) HSBC…
- HSBC subprime bad loans continue to hurt
  All is not rosy at HSBC. Bad debts in the US continue to rise, while regulators extended the open comment period on HSBC's proposed sale of the banks credit…
- Predatory lending went subprime, immoral, and reckless
  President Barack Obama said the mortgage finance practices that led to the economic meltdown were "immoral, inappropriate and reckless," but not necessarily…
- RBS and HSBC package bad loans, sued in US
  Documents released by the US Federal Housing Finance Agency (FHFA) claim that Royal Bank of Scotland (RBS) and HSBC retained the services of Clayton Holdings,…
- Job cuts hit hard in lending and mortgage industry
  HSBC said it will also sell, shut or slim down retail operations in 39 markets, where operations are sub-scale and unprofitable and is looking to sell its U.S.…
- Bernie Madoff with pants down, Bankers too
  When it comes to the Madoff bankruptcy case, the venue matters. Bernie was scamming everyone until the financial crisis exposed him, and the next thing we…
- UniCredit, HSBC Seek to Dismiss Madoff Investor Suit
  UniCredit Bank Austria AG and other defendants asked a judge to dismiss a lawsuit by foreign investors in funds that put money with con man Bernard Madoff,…
Category: Saxon Mortgage
- New York State Banking Dept Visits Saxon Watch
  We were pleased to see the New York State Banking Department on our Saxon Mortgage website this morning, relative to HAMP modifications. After monitoring…
Category: Deutsche Bank
- Deutsche Bank sued over MortgageIt lies
  We already know that Deutsche Bank is the investor for many Saxon Mortgage home buyers. We also know Deutsche Bank was involved in many bad Ohio mortgages.…
Category: Goldman Sachs
- Goldman Sachs sued again over MBS
  Bond insurer CIFG Assurance has become the latest aggrieved party to sue Goldman Sachs for misrepresenting a bunch of MBS-related securities that blew up.…
- Job cuts hit hard in lending and mortgage industry
  HSBC said it will also sell, shut or slim down retail operations in 39 markets, where operations are sub-scale and unprofitable and is looking to sell its U.S.…
- Update on SEC Goldman Sachs suit and Paulson bet
  Why is Goldman Sachs stalling on a request from the SEC? Goldman Sachs Group Inc. will have longer to respond to the high-profile lawsuit by the Securities and…
Category: JPMorgan Chase
- How crappy U.S. mortgages hurt Ireland and Germany
  JPMorgan Chase & Co and Bank of America Corp were hit with new lawsuits by investors claiming losses on .5 billion of soured mortgage debt, adding to…
- Ambac billion subprime lawsuit vs JPMorgan revived
  By Jonathan Stempel NEW YORK | Thu Jul 14, 2011 4:36pm EDT NEW YORK (Reuters) - A New York state appeals court revived Ambac Financial Group Inc's …
- Bernie Madoff with pants down, Bankers too
  When it comes to the Madoff bankruptcy case, the venue matters. Bernie was scamming everyone until the financial crisis exposed him, and the next thing we…
- J.P. Morgan Securities LLC settles with SEC
  As the mortgage crisis and subprime debacle came and went, scars were left on the financial landscape across the Unted States and elsewhere around the world.…
- UniCredit, HSBC Seek to Dismiss Madoff Investor Suit
  UniCredit Bank Austria AG and other defendants asked a judge to dismiss a lawsuit by foreign investors in funds that put money with con man Bernard Madoff,…
- JPMorgan Chase ordered to apologize
  JPMorgan Chase had to publicly apologize before Congress to military families for the bank’s financial abuse of Americans fighting in Iraq and Afghanistan…
Category: Fannie Mae
- Fannie Mae Silence on Taylor Bean Led to Billion Fraud
  The first sign of what would ultimately become a billion fraud surfaced Jan. 11, 2000, when Fannie Mae executive Samuel Smith discovered Taylor, Bean &…
Category: Bank of America
- No class certification for BofA toxic adjustables
  A federal judge rejected class certification for more than 500,000 borrowers who say predatory lending schemes made them fall victim to "toxic" adjustable-rate…
- How crappy U.S. mortgages hurt Ireland and Germany
  JPMorgan Chase & Co and Bank of America Corp were hit with new lawsuits by investors claiming losses on .5 billion of soured mortgage debt, adding to…
- Monthly Fee To Use Your Debit Card
  Bank of America plans to start charging customers a monthly fee for using their debit card to make purchases. The fee will be rolled out starting early next…
- Bank of America slashes costs with 40000 layoffs
  Bank of America Corp. is preparing to slash 40,000 or more jobs nationwide, a dramatic retrenchment that reflects the deepening woes of the country's largest…
- Bank of America to lay off 3500
  Bank of America Corp Chief Executive Officer Brian T. Moynihan told his managers at the biggest U.S. lender to expect 3,500 job cuts this quarter. Some…
- AIG Plans to Sue Bank of America
  There is more bad news for Bank of America today, as insurer AIG plans to sue the bank. Bank of America bought Countrywide Mortgage, so the bank bought this…
- BofA proposed .5 billion settlement
  Opposition to Bank of America's proposed .5 billion settlement with Countrywide mortgage-backed securities investors consisted of a handful of investor…
- Countrywide Must Face MBIA Fraud Claim, Appeals Court Rules
  Bank of America Corp. (BAC) and its Countrywide Financial Corp. unit must face a fraud claim brought by bond insurer MBIA Insurance Corp., an appeals court…
Category: Mortgage Fraud
- Nine Argent Mortgage employees charged with fraud
  Last week in Cleveland, nine former employees of former subprime lender Argent Mortgage Co. were indicted for their roles in making nearly million of…
Category: Wells Fargo
- Wells Fargo paying record fine of million over loan practices
  By George Avalos Contra Costa Times Posted: 07/20/2011 08:21:45 PM PDT Updated: 07/20/2011 08:21:50 PM PDT Wells Fargo agreed to pay a record …
Category: Ocwen Financial
- Fitch Ratings downgrades Ocwen Financial
  Here at Lender Watch we monitor companies that are heavy into subprime. Confirming our concerns today was a downgrade of Ocwen Financial by Fitch Ratings. In…
- Ocwen is largest subprime mortgage servicer
  In 2010, Ocwen ranked fourth in subprime mortgage servicing, at billion in volume. That was behind American Home Servicing ( billion), Bank of America/Co…
Category: Barclays PLC
- RBS and HSBC package bad loans, sued in US
  Documents released by the US Federal Housing Finance Agency (FHFA) claim that Royal Bank of Scotland (RBS) and HSBC retained the services of Clayton Holdings,…
- Layoffs sweep the banking sector
  HSBC, Barclays PLC, Goldman Sachs Group Inc and Bank of New York Mellon Corp have announced plans to ax thousands of workers in recent months. On Thursday,…
Category: Mellon Bank
- Layoffs sweep the banking sector
  HSBC, Barclays PLC, Goldman Sachs Group Inc and Bank of New York Mellon Corp have announced plans to ax thousands of workers in recent months. On Thursday,…
Category: Santander
- Santander Payment Protection Insurance Busted
  What do HSBC and Santander have in common? Aside from Santander buying HSBC's auto loan business in the U.S., they both have insurance problems. Santander…
Category: Royal Bank of Scotland (RBS)
- RBS and HSBC package bad loans, sued in US
  Documents released by the US Federal Housing Finance Agency (FHFA) claim that Royal Bank of Scotland (RBS) and HSBC retained the services of Clayton Holdings,…
Category: Ally Financial (GMAC)
- List of lawsuits against major banks
  The regulator overseeing Fannie Mae and Freddie Mac today sued many of the country’s biggest banks, claiming the government-owned entities were duped into…
Category: Citigroup
- List of lawsuits against major banks
  The regulator overseeing Fannie Mae and Freddie Mac today sued many of the country’s biggest banks, claiming the government-owned entities were duped into…
Category: Credit Suisse Holdings USA
- List of lawsuits against major banks
  The regulator overseeing Fannie Mae and Freddie Mac today sued many of the country’s biggest banks, claiming the government-owned entities were duped into…
Category: Nomura Holding America Inc
- List of lawsuits against major banks
  The regulator overseeing Fannie Mae and Freddie Mac today sued many of the country’s biggest banks, claiming the government-owned entities were duped into…
Category: Societe Generale
- List of lawsuits against major banks
  The regulator overseeing Fannie Mae and Freddie Mac today sued many of the country’s biggest banks, claiming the government-owned entities were duped into…
Category: US Bank
- US Bank sues over bad subprime packaging
  As lawsuits continue it's hard to keep the players straight. It seems like a new suit makes the news almost every day. Here is the latest one, from a company…
Category: Lehman Brothers
- Third Anniversary of Lehman Brothers Collapse
  Thursday, September 15, 2011, marked the third anniversary of Lehman Brothers failure, which occurred as doubts about the firm's solvency caused other banks to…
Category: Customer Complaints
- Why Americans Find Predatory Lending Offensive
  Author's Note: I wrote this article in 2002. It has been copied, stolen, and reused without permission or credit given. When I worte this article I was…
- Best Buy HSBC complaint and debt cancellation fee scam
  Black Friday resulted in great sales figures for electronics retailer Best Buy. We shudder when thinking of how many people used a Best Buy credit card or…
- Lender Watch complaints and a Soldier in Afghanistan
  SW in Maryland said this in a recent complaint about Saxon Mortgage: "Saxon mortgage has been charging me escrow and late fee for the last 2 years even…
- Saxon Ocwen transition causes foreclosure complaints
  BL in Maryland sent this complaint about Saxon Mortgage servicing and Ocwen. The complaint stated "Saxon and Ocwen stole my home of 13 years. To make a long…
Category: Capital One
If Capital One buys HSBC credit card business Capital One inherits HSBC Watch oversight
- Capital One and HSBC Credit Cards
  Capital One might do a better job than HSBC Finance, Household Bank, and HSBC NV with regard to credit cards. Almost everyone has seen a commercial asking…

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	History of Subprime Lending HSBC 2003 – 2004 HSBC 2005 – 2006 HSBC 2005 Forums HSBC Complaints HSBC News Mortgage Blues Saxon Mortgage (Ocwen) Settlement Scams and protecting your financial well-being The HSBC Monitor Understanding Foreclosure	New suit alleges deceptive foreclosure practices Wells Fargo paying record fine of $85 million over loan practices J.P. Morgan Securities LLC settles with SEC New York State Banking Dept Visits Saxon Watch Job cuts hit hard in lending and mortgage industry Santander Payment Protection Insurance Busted No class certification for BofA toxic adjustables Monthly Fee To Use Your Debit Card Countrywide Must Face MBIA Fraud Claim, Appeals Court Rules AIG Plans to Sue Bank of America

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