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Anyone has HSBC as their investor

Discussion in 'Loan Modification' started by antomax, Nov 30, 2009.

  1. antomax

    antomax LoanSafe Member

    I was just told by wells fargo my servicer that HSBC is not participating in the HAMP program, is that true??? anyone has HSBC as an investor and was able to get the HAMP? Thanks
  2. Evan Bedard

    Evan Bedard Call 1-800-779-4547 Loan Safe Mortgage

    Hi Automax,

    Sorry but I cannot recall seeing any loans with HSBC as the investor get approved for the HAMP program. Reading around other threads it seems like others have been hearing the same:


  3. jnadler

    jnadler LoanSafe Member

    I have spoke to HSBC regarding the HAMP program and have been advised that HSBC IS NOT participating at this time.
  4. Jade0919

    Jade0919 LoanSafe Member

    jnadler I don't know if they really do HAMP's. I have them as my investor or at least that's what I'm told. My servicer is Homeq. I tried for almost 2 years to get a mod they always said I didn't qualify for anything due to my payment going down 1 cent a month. Then I got a call saying they did Hamp. So I ask for the note and mortgage I received a photo copy. Stopped making payments in Sept. 09 then on Dec 11, 2009 I got the foreclosure papers from the court they list HSBC. My original loan was through New Century. They used the same copy for that claim so I'm going to ask for the original papers, even though these are stamped certified there's no signature or name or anything saying who certified them as to the be original. I also had an inflated appraisal too. So, I'm fighting them in court. First step filing for an extension to answer the complaint. That should get me 45 days. I'll keep you posted but I am contacting their loss dept and see what happens. The calls stopped since they filed in court, But Homeq did say they were doing HAMP's don't know if that lasy really knew what she was talking about. Told me you could only apply for HAMP once and never again.
    Last edited by a moderator: Jan 17, 2012
  5. msm859

    msm859 LoanSafe Member

    Gee Wells Fargo denied me because they said my investor was Bank of America and they are also NOT participating in HAMP. Is this there new standard line?
  6. antomax

    antomax LoanSafe Member

    I think banks say that as a reason for hamp denial because they want to make more by placing you on in house mods and collect contribution fees etc..
  7. davephx

    davephx LoanSafe Member

    HSBC is foreign owned and is not listed as a HAMP participant by Treasury.

    However there have been reports here of at least one "better than HAMP" internal mods.

    Participants List at
    Making Home Affordable -Contact Your Mortgage Servicer
    Hit All Servicers for complete list

    Hopefully they keep it up to date!
  8. Believe

    Believe LoanSafe Member

    Dave is right. There is one loansafe member who received a permanent modification from HSBC after her husband died. HSBC is not participating in HAMP, nor do they modify loans. They will temporarily reduce your interest rate for 6 months or 18 months in cases of extreme hardship, but NOT permanently. Except, obviously, the one lady here who lost her husband. God bless her. She must have caught them on a good day.
  9. davephx

    davephx LoanSafe Member

    IF you search here pre March 2009 before HAMP it looks like they were doing some good internal mods in 2008. But not recently it seems.
  10. Opus09

    Opus09 LoanSafe Member

    Not sure about pre 2009 but I can reiterate what most people have said: HSBC/Beneficial/HFC does not participate in HAMP. They only do temporary mods in 6 month increments (if you're lucky) and I only know of one case here at Loansafe where a person got a permanent mod (the person that Believe mentioned).

    They do seem to becoming more partial to the short sale route, however, which we have persued. According to our attorney, we are close to getting approved for an offer on our house. Of course, this doesn't help if you want to stay in your home but for us, it was the best route. We'll take the credit hit and start over fresh in a few years. Rental properties are plentiful and less expensive than our mortgages. We've had it with the worry, stress and frustration of dealing with a company that does not know how to play fair.
  11. kjenkins7

    kjenkins7 LoanSafe Member

    My experience with Homeq is they do HAMP but its very rare. They will look into "in house' mods for most part. They are very slow with my current loan. Still under 'review" with the chief executive office. Been that way for 1 month so far. I keep calling every week.
  12. jtg100s

    jtg100s LoanSafe Member

    Automax or anyone have you had any luck with modification with WF as master servicer and HSBC Bank as trustee? HSBC is our trustee and i fear the worse. We have being trying since June 2008 to modify...we did the 3 month forbearance and are awaiting their review.....i guess i should not expect much. like i did say in another thread wf said they are considering a balloon payment offer with delinquencies at the end....i read their pooling agreement and it says it gives wf the right to modify and modify or repurchase mortgage loans....any help would be great. thanks!

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