My HSBC 2nd mortgage negotiations round 3

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Erik Sandstrom

Mortgage Expert - Call 1-619-379-8999
Staff member
Loan Safe Mortgage
Jan 14, 2011
2,113
182
63
San Diego, California
www.loansreduced.com
Hey guys,
We are receiving an overwhelming response in regards to people trying to locate lien satisfaction letters with Beneficial. They are all given a letter that says who to send a letter to contact and they never receive any correspondence back.

Many of these homeowners are in contract to sell their home and this mysterious lien that no one is able to locate is preventing them from selling and/or refinancing.

I've spoken to about 100+ people now in this situation that have called our number and I'm limited on the advice that I can give. I did have one person call back that said they reached out to the CFPB, Local Congressman/women, FTC, as well as the Attorney General. I believe they said that the only organization that helped them was the CFPB. This one person was able to obtain the lien release however if there is anything that can help educate these people of who they need to reach out to please, please correspond here if possible regarding that.

I believe this is what they are searching for and finding and then reaching out to myself which I don't have too much advice to give on this situation.
 

OneHugeMess

LoanSafe Member
May 30, 2016
597
53
28
@Erik Sandstrom, those Beneficial & HSBC loans are like a huge pot of Chop Suey. I know that some of them went to National Credit/Ocwen, Some went to Fay Servicing and Caliber, and a bunch others ended up with the likes of Rushmore.

The reason it's a huge pot of confusion is HSBC sliced, diced, and triple transferred these loans to investors. A decent portion of the Beneficial Financial Loans were portfolio loans, which were eventually sold to a mix of Investors like Lone Star, and NRZ.

The real key to any resolution is going to be checking the MERS Listing or ordering a title report, and contacting the last recorded beneficiary of the loan. Eventually, you'll reach a servicer that actually has it.

Fay Servicing is where I'd start... and then follow up with a call to Ocwen and Caliber. That's where most of these loans ended up.
 

OneHugeMess

LoanSafe Member
May 30, 2016
597
53
28
Do any of these homeowners still receive statements from the servicer? That would be helpful in finding a capable person for a lien release.