Articles Tagged with ''HSBC''

Guaranteed Rate appoints new chief financial officer

Prior to joining the company, Suk Shah served Avant as its CFO
In a move to increase its revenue growth, retail mortgage lender Guaranteed Rate recently hired Suk Shah as the company’s new chief financial officer. In his new role as CFO, Shah will be responsible for overseeing Guaranteed Rate’s profitability and efficiently, all while supporting the company’s growth efforts.
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Inside the digital mortgage revolution: HSBC and Roostify on partnering to shape the future

Execs on how partnership came together and what it means for the future
Recently, HSBC Bank USA, the U.S. arm of HSBC Group, became the latest to launch a digital mortgage platform, partnering with Roostify. So, how did such a relationship come together? And what does it mean for the future of mortgages? To find answers to these questions, HousingWire sat down recently with executives from both HSBC and Roostify to discuss their partnership, how it came to be, and what the future holds.
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HSBC launches digital mortgage platform with help from Roostify

HSBC also plans U.S. expansion
One of the world’s largest banks is about to join the digital mortgage revolution, as HSBC Bank USA, the U.S. arm of HSBC Group, announced that it is partnering with Roostify to launch a digital mortgage platform. The move to go digital is part of an expansion plan for HSBC in the U.S.
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HSBC to pay $765 million in settlement over pre-crisis mortgage bonds

DOJ accused bank of selling mortgage-backed securities full of toxic loans
HSBC will pay $765 million to the federal government as part of a settlement that covers the bank’s mortgage bond activities in the run-up to the housing crisis. The Department of Justice announced Tuesday that it reached a final settlement with HSBC that would resolve an investigation into the bank’s mortgage origination and securitization activities from 2005 to 2007.
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The National Mortgage Settlement is officially over

Monitor’s office to shut down by end of 2018
One of the vestiges of the financial crisis is now officially in the past. The National Mortgage Settlement, the epic, massive mortgage servicing settlement between the federal government, 49 states (all excluding Oklahoma), and five of the nation’s biggest banks and mortgage servicers, is now done and complete. RIP.
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U.S. Bank to promote Jodi Richard to vice chairman

Richard will oversee risk management and compliance efforts
U.S. Bank recently announced it will promote Jodi Richard to vice chairman and chief risk officer, following current Vice Chairman Bill Parker’s plans to retire in the upcoming months. Richard is expected to transition into the new position by early October.
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HSBC agrees to $765 million settlement with DOJ over pre-crisis mortgages

Plus $26.8 million settlement with Massachusetts
HSBC revealed Monday that it recently agreed to a “settlement-in-principle” with the Department of Justice that would see the bank pay a $765 million civil penalty that would resolve an investigation into the bank’s mortgage origination and securitization activities from 2005 to 2007. But that's not the only pending settlement for the London-based bank.
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Fed fines another 5 banks $35.1 million for mortgage servicing and foreclosure infractions

These big banks yet to be penalized
On Friday, the Federal Reserve Board announced another $35.1 million in civil penalties against five banks as part of its effort to terminate enforcement actions, issued in 2011 and 2012, against a total of 10 banks related to residential mortgage loan servicing and foreclosure processing.
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HSBC lays off nearly 200 employees in Florida office

Cuts include mortgage servicing support positions
London-based HSBC announced another round of layoffs, cutting 197 employees at its Brandon, Florida, office. Among the affected positions are analysts, collection specialists and mortgage servicing support. Once all the cuts are complete, the office will remain open.
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