HSBC Beneficial 2nd Mortgage - Who did they sell servicing to?

[Erik Sandstrom]

DISCLAIMER & UPDATE 8/30/18: I Do NOT know who to contact to receive HSBC payoffs, demands or how to even get a hold of the beneficial department. If you have information on this, please contact me as I can help hundreds of homeowners requesting help.

LoanSafe Members,
I know we have a large number of members that are with HSBC Beneficial that may have had their loans transferred. I am trying to find out who took the majority of the servicing rights from them. If you had HSBC Beneficial and your mortgage was transferred, please comment below on who obtained the servicing.

Below is what is shown on HSBC Beneficials Website:

The Beneficial and HFC companies and HSBC Credit Centers have closed their consumer finance businesses in the United States. Accordingly, this web site is no longer active.

All loans have been sold and servicing has been transferred to third party servicers. Please refer to the Servicing Transfer Notice that was sent to you for your current servicer contact information.

Please send any questions or inquiries you may have through written correspondence to the following address:

HSBC
Attn: CML Customer Resolution Department
1421 W. Shure Drive
Arlington Heights, Illinois 60004

 

[DB simpson]

I need to get a release letter for a title loan that was paid off.

 

[Erik Sandstrom]

I would recommend you send a letter to the address above through certified mail or fed ex with a return shipping slip and envelope to send it back to you. That is what some of the people reaching out to me regarding this scenario have said they did and it seems to get a response.

 

[kraftykrab]

I had a first with HSBC, it was sold by HSBC at least 5 times....not exactly legal, but par for the course. When they "sold" it the sixth time, it went to Caliber Home Loans, supposedly. But now Caliber claims that six different parties, at various times, each "own" it. Among the parties they claim as owner is still HSBC, so we know that's not correct. I have found a lot of people whose loans went from HSBC to Caliber.

 

[OneHugeMess]

HSBC at some point in 2014/2015 unloaded almost/if not all of their mortgage portfolios, and the servicing went all over the place. Caliber, Fay Servicing, and Ocwen are handling almost all of it. I do know some odd ones out, are with Bayview and Nationstar/Mr. Cooper.

In many of the cases, HSBC sold the loans to entities that repackaged the loan into new securitizations and investment trusts.

The best way to truly track down the servicer is to pull the title for the home from the county recorder and look for an assignment of mortgage or transfer form that been recorded. Often times, those forms will have a return address that at least points to the current servicer or contains a phone number with someone behind it.

 

[RanesL]

DISCLAIMER & UPDATE 8/30/18: I Do NOT know who to contact to receive HSBC payoffs, demands or how to even get a hold of the beneficial department. If you have information on this, please contact me as I can help hundreds of homeowners requesting help.

LoanSafe Members,
I know we have a large number of members that are with HSBC Beneficial that may have had their loans transferred. I am trying to find out who took the majority of the servicing rights from them. If you had HSBC Beneficial and your mortgage was transferred, please comment below on who obtained the servicing.

Below is what is shown on HSBC Beneficials Website:

The Beneficial and HFC companies and HSBC Credit Centers have closed their consumer finance businesses in the United States. Accordingly, this web site is no longer active.

All loans have been sold and servicing has been transferred to third party servicers. Please refer to the Servicing Transfer Notice that was sent to you for your current servicer contact information.

Please send any questions or inquiries you may have through written correspondence to the following address:

HSBC
Attn: CML Customer Resolution Department
1421 W. Shure Drive
Arlington Heights, Illinois 60004

SP

 

[RanesL]

SPS ...Select Portfolio Services took over my parents mortgage account that originated with HSBC Beneficial

 

[kraftykrab]

HSBC at some point in 2014/2015 unloaded almost/if not all of their mortgage portfolios, and the servicing went all over the place. Caliber, Fay Servicing, and Ocwen are handling almost all of it. I do know some odd ones out, are with Bayview and Nationstar/Mr. Cooper.

In many of the cases, HSBC sold the loans to entities that repackaged the loan into new securitizations and investment trusts.

The best way to truly track down the servicer is to pull the title for the home from the county recorder and look for an assignment of mortgage or transfer form that been recorded. Often times, those forms will have a return address that at least points to the current servicer or contains a phone number with someone behind it.

Be careful on this though---it only represents what the pretender lender wants you to see. No, really. Example--

according to the current servicer, THEY are the owner of the loan. They claim to me that they bought it from the OC in 2014 and have owned it ever since. But that's not what the recorded assignment of mortgage says. It's also not what they themselves have told me over and over again. To date, Caliber has named literally a half dozen different entities, and told me that each one is the owner of the loan. But there is only one assignment--which is phony anyways. It was created out of thin air using LPS Desktop. The person who supposedly signed it for Caliber is not the actual signer--the handwriting is very different. Caliber claims attorney in fact status but cannot produce any PSA or POA agreement which names them as such. And the only documentation I have ever been able to find anywhere regarding that sale of the loan pool from HSBC names a company--an LLC--as the purchaser, not a trust. That LLC is not named anywhere else by any party, but supposedly they were the actual purchaser. The person who "signed" my assignment left Caliber, and his name is still being used by Caliber in foreclosure cases even though he is no longer employed there. I have copies of his signature from documents in his own life, obtained through San Diego County public records...there is zero question that he did not sign my assignment.

It is important to note that a servicer can ONLY be legitimately named on any given account by the one party that holds the note. If they do not have legal authority as such, then they have no authority to name a servicer to that account. A servicer can only legally service accounts that their principal legitimately holds. If the "owner" does not actually own anything, they are without authority to make any decisions regarding that account. Look up the laws regarding agency--servicer is an agent of the principal. If the principal has no authority their named servicer cannot have any authority either. An agent cannot have any authority granted to them that the principal does not legitimately have.

 

[Stephenhaven]

Thank you for sharing this.