Institution

HSBC North America Holdings, HSBC Bank USA, N.A., HSBC Finance Corporation, and HSBC Mortgage Services Inc.

Date

15-11-2016 12:00 AM

Quarter

Q2 2016

Creator

Office of Mortgage Settlement Oversight

Share

COinS
 
Nov 15th, 12:00 AM

HSBC Consumer Relief -- Second Quarter 2016 -- National Totals

HSBC reported that it has provided $542,503,107 in total relief to 12,116 HSBC borrowers for the second quarter 2016 under the National Mortgage Settlement (NMS). This is self-reported gross data. Of these borrowers, 6,458 received first lien modification forgiveness totaling approximately $209 million. On average, this represents $32,386 per borrower. In addition, 5,658 borrowers received relief in the form of shorts sales or deeds in lieu.