Consumer Complaints and Reviews
If I could, I would give this rating no stars. I have been trying to refinance with Quicken Loans since august 2016. FEMA had recently remapped the flood plan in my city. HSBC adjusted my mortgage rate over $300 the first month (strange since I read in some of the documentation sent to me that they were going to increase my payments $126 per month for the flood insurance). I subsequently found out that my condominium complex carried coverage for flood as we own the sewers on the sidewalk on city property. I started questioning the insurance, why I couldn't cancel it, etc. I was told that only HSBC could cancel the policy and then I was told the coverage was not sufficient, the policy had $10,000 for the basements and $1M on the buildings. The reply to Consumer Protection was they required coverage on the outside of the building.
I had the association's insurance agent call HSBC to find out what was necessary to cancel the flood insurance so I could move onto my refinance. She was told that I had to have a separate policy for the outside of the building...the association is responsible for that, not the unit owner. When I made multiple inquiries as to why my payments increased more than the monthly payment all I was told was flood insurance. Payments for the flood insurance were to begin August 2016, and they backdated the payments to April 2016. This company is the WORST I have ever dealt with. If your mortgage has been sold to this company refinance right away. They have done nothing for me and has stonewalled my refinance in every possible way.
When I requested a record of accounts/account history I was told no late payments were attached to my account, which is not true. I've paid late fees. The assistor told me I had to pay for the information. I told him that the three people I spoke to before him didn't say anything about paying for info. I have been paying the same $84K for several years and I want to know why. I reached out to the Office of the Comptroller of the Currency and Consumer Protection Fraud. HSBC's reply did not address the issue, just the same old crap advising me of the flood insurance.
Bottom line, they would not cancel the insurance policy and when I made August and September inflated mortgage payments to move on, they canceled the policy, but not until I paid them $2200 dollars. I believe there are questionable financial issues. If you continue to have problems with this company I strongly suggest you reach out to these agencies, they do contact the company with the complaint immediately.
I bought my house in 2005. Now I want to sell but my payoff is 14,000 more than the purchase price. How can this be. HSBC claims world class customer service. What a joke. I was assigned a Specialist but the trick is reaching her. Ever since they purchased my loan it has been a nightmare. Will be happy to get rid of them.
I had loan with HSBC back in 2002. I did refinance in 2002 and never got the discharge letter. I discovered this problem in Jun 2016. I called the attorney that did the refinance closing for me in 2002. He called the HSBC and asked for the discharge letter since Jun 17 2016. It is Sep 5th now and still no response. I am totally messed up. I can not get home equity line or mortgage on the property. I am very unhappy.
I have been with HSBC since 2003. It has been a nightmare from day one. The customer service is ridiculous. If you fall behind, like most of us do at some point, they will not work with you. In fact they won't accept a payment unless it's the exact amount you're behind, thus causing you to fall more behind. Choosing this company to service my mortgage has been the worst mistake I've yet to make at 40. It seems they are in business to gain from your misfortunes.
I am in desperation mode. I can't get a loan modification and I'm trying to come up with the money for a lawyer. We have sent over a dozen re-faxes because week they lost it out we didn't send it in TIME. I've had a HEART ATTACK - because of the constant phone calls in 34 years never being a part - my husband is still give at truck driving school.
Our credit is garage now and I'M not giving up much home and why did our interest rate 8.9%, we'll never get it paid off. I want help and I want an attorney to help me. Sure hsbc signs Hillary Clinton - if any one thinks they can take get on fur my household and hundreds of others do anyone wanting to sure - Please help me start a proton Petition to sue. Alone we can't but Together we can and I am asking the Government, "Please help me get my modification. STOP saying YOUR HANDS ARE tied." MY cardiologists EVEN said it was a stress HEART ATTACK and now I am IN HEART Failure. PLEASE help me. I have paid on it for so LONG. It SHOULD BE paid IN full. Please - I pray you are going to do what is right for the PEOPLE and I still say Trey for president.
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Ruined credit completely! Short sale occurred/reported as foreclosure! Years later learned of the damage on report! Bought out have no info of account at THH! Should be sued for stupidity! Workers clueless, days spent on phone calls transferring from department to department or eternal hold. If you want to be frustrated with a company and need your heart rate to go up get a mortgage/credit with them.
We have been trying to get out for under HSBC since they bought our loan. They are the worst. We tried a mortgage modification to lower our payments with them and it was a huge mess. After they lost the papers a dozen times and turned us down a dozen more and about 5 month of arguments they finally said they would do it. The new mortgage amount was three hundred dollars more than the old amount then they got mad because we refused to sign it so they charged us a bunch of late fees. Now we started to refinance with a different company and they will not turn over the papers needed to do the loan. Every time our hopefully new company tries get the payoff amount or payment history they refuse to release it or they say "We will mail it to you."
Well we started on 5/11/16 and we still can't get what we need. It's 7/14/16 now and they said maybe the payment history will get to me by 8/8/16 and I can't get one online because the HSBC area I live in doesn't allow you to print it online. The whole reason I need it was because HSBC doesn't report their customers to the credit reporting company. They don't have to I was told. They are charging me an interest rate of 11.75% and they don't want to give it up. They are doing everything they can to make this not happen for us. Please if you can avoid this company do so. They are the biggest crooks there are. Once they have you they will never let go. They do not even rate a one star but I have to put it in to do this.
In 2003 I paid off a home equity loan with HSBC. They charged me for filling a satisfaction with my local county but never did it. They sent me a letter stating that it was paid off. Now, 13 years later, I am in contract to sell my house but it has been held up because there is a lien on my house from HSBC for this credit line. After trying for 12 months to get this resolved, HSBC still has not come through. They keep giving me the runaround "we don't have the loan, try HSBC PHH." I have contacted HSBC Mortgage corp PHH and they tell me the same thing that they don't have the loan either. It is maddening!!! They are holding me captive because one of their employees did not do their job and now I am paying unjust consequences for this bank's poor management of their paperwork. Avoid HSBC at all costs!!!
I have been with this company for over 10 years, never missed a payment until I lost my job last month. I've applied for the loan modification and they turned me down. My only income until I find another job is about $1600.00, my military pension. Still this company will not give me a break even at this difficult times. I am a veteran with 20 years of honorable service and although I do not like to take advantage of my service, this company is so heartless that they will not even work with me until I find another job. Their only recommendation is to file for foreclosure, or short sale our house. I've repeatedly told them that I want to stay at this house if they can give me a break. I'm sure there are other company out there that practices similar tactic, but this is not how you treat a valuable customer.
We will probably lose our house because this company does not want to help their customer. It's a shame that they do not care what happens to you when you need help. If you are considering financing anything with HSBC, I would go somewhere else. This company need to close its door and not be in this type of business that results in good people having go through the extreme and perhaps end up being homeless.
There is a very obvious reason why HSBC is now out of business. The games they play with both customers and other businesses. I work for another lender and have never found another institution that plays so many games over the phone, via fax, or via email. They hate their customers and they hate other businesses even more. They refuse to speak to someone on a recorded line yet record all of their own calls. I guess they're afraid to say the wrong thing and be held accountable for something. Very, very sketchy company. AVOID AT ALL COSTS.
Since 2002 this company has jacked us around. They said we hadn't made payments for 5 yrs., guess they lost all our checks. No statements from them, no help and owed more at the end than we borrowed. This company is horrible! They sold it to Caliber homes in Nov. of 2015, foreclosed on me in March of 2016, and bought it back. What a fricken rip. We even had them included in a chapter 7 bankruptcy in Nov 2015. Please someone sue this company and put them out of business. Interest rates are 12.5 and we couldn't refinance!! We all deserve our homes back or money from these crooks!!!
My husband and I tried for a modification of a home loan due to loss of income/job. We were given the runaround for 2 YEARS. Continually asked for the same info over and over, even though all we sent in was exact documents that had already been sent. We were denied several times. The reason? Could not prove a hardship!!! My husband was out of work for almost 8 months, no income coming in and we couldn't prove a hardship? It seemed like the more we fought, the more HSBC was resistant to helping us.
One of the last straws came when during a call we were told we were approved. Got our hopes up even though I felt something wasn't right. After setting up a couple pre-approved payments to come out of our account, I asked about a HELOC we had open with them still and after checking and discovering there wasn't one (but there was) the lady apologized and said she was sorry but had mixed us up with another person with same name living in same state and that our loan was still in a denied state. TOTALLY unacceptable in my books. If I had felt like giving up before, this only fueled my fire to start fighting harder.
We found a company who promised they could get us a modification and they began the fight with HSBC for us and approximately 4-5 months later, our modification was approved and the loan was moved to another servicing company, which will remain our new mortgage company. The loan will not go back to HSBC. All I can suggest to those out there fighting this company: DO NOT GIVE UP THE FIGHT. Be persistent, call back many times, keep notes who you talked to, when, day, time, employee number. Make notes of what you fax, when and where. DO NOT GIVE UP even though you feel to. We started this battle with the company in November 2013 and it ended August 2015. Over 2 years to get to where we are today.
I was given a loan modification. The interest rate was fair and in the current prevailing market. As of Dec. 1, 2015, they have taken the loan modification away, moved the rate up to 13.75. I still have a first mortgage going into year 15, which I have never failed to pay on promptly. I cannot pay the 13.75 that HSBC demands. They are asking for deed in lieu of foreclosure. My home is also underwater. I am disabled and have nowhere to go. They are calling me on the average of 5 times per day and telling me not to pay my 1st mortgage, but to pay them instead. I desperately need some guidance. I am alone and sob for hours after these calls.
M&I bank held our loan for 1 month, then selling it off the HSBC. Since that time we have had nothing but trouble. From missing payments that were sent and cashed to the latest. HSBC has not filed one credit report since the day they took over our loan. NOT ONE! M&I bank is the last creditor shown for a mortgage. This was in 2008! So in the last 7 years my credit report is devoid of any type of mortgage reporting. When I called to question this, they told me that they "had the option to opt out and they had". Not only do I owe $20,000 more than my home is worth, it is not Freddie or Fannie so I can NOT refinance, no other bank will even touch this loan because it is riddled with unsecured debt and our interest rate is 8.450.
We are currently in the process of securing a construction loan to build a new home. This credit issue has provided significant issues with obtaining our loan and NOW our bank has requested a Verification of Mortgage, which we were told would take 7 business days. We are currently on week 3 and when I call in no one can give me any information as they claim this is being handled by a department that no one is able to call or contact other than through mail or fax. I am getting frustrated beyond belief and in the meantime my construction loan is being put off, the sale of my current home is being put off and my builder is being put off and will eventually have to fill my build schedule in order to make his own money. Why can't ANYONE step in and help?
I did a refinance with this bank in 2015. Together with the companies they chose to complete it made it a horrible experience. I was lied to and deceived on numerous occasions. Their employees either don't respond or when pushed transfer you to a different person prolonging the anguish. My loan has been a complete nightmare. PLEASE! PLEASE! PLEASE! Do yourself a favor and do NOT do business with this bank.
Like most folks on here I am not unique. Same job 33 years with the same company. I am in sales and 100% commission. When the economy went sour I pulled money from savings to stay afloat, waiting for it to improve and things to return to normal with my income. Eventually I ran out of savings to stay afloat and fell behind. I offered partial payments to HSBC as a good faith attempt and they would not take them and demanded full arrears. I did send in a couple thousand dollars and they put in a holding account and would not apply it to the mortgage. I kept calling and worked with an adviser to save my home and HSBC continued for 6 months plus to saying they were reviewing my paperwork and would get back to me in two weeks. It never happened and I slipped further into the red.
They played games with the mediation company I was dealing with and gave them the same run around. This went on until we got a court date and the lawyers for HSBC would show up unprepared and blamed it on HSBC for failure to comply with court mediator request and dates for decisions. The only way this stopped was by threats of the judge deciding my case and what my modification would be. Then they came with a modification which included me paying about $34000 in additional legal expenses for them and the bill they ran up with their attorney. I also gave them another $10000 as good faith that I could pay the modified mortgage. I was desperate to save my home and agreed.
My home is now over market price by $50000 dollars and there is now way that will ever improve in my lifetime. How do I get HSBC to reduce the principal and remove me from servitude? They have me paying for their attorneys because they were trying to squeeze me out of the house and walk away. I did the right thing and how I have been current on my mortgage ever since. This feels like I am in servitude to this bank.
Have lived in our home for ten years plus and question why we were never allowed for a refinance. After first several years in contract, I became disabled and asked HSBC for modified loan with lowered interest, but denied. My wife lost her job and again I asked for consideration, but was denied. The story goes on and on. Struggling continues. Nov 2015 statement had a home appraisal fee added to our mortgage, then we were notified our contract was being serviced by a new agent. I'm lost in all this and that. We have paid ten years mortgage payments and owe the same we borrowed originally. Where can I seek help or answers?? Thanks.
For the past three months I have been attempting to pay my mortgage online and each site that HSBC Mortgage gives me has a message that "This site is temporary unavailable, please try later." If this is an option available to customers, why is it not being made available? I have to call each time I make a payment, instead of paying online.
They ruined my life!!! I am the sole provider of a family of five. I've been a homeowner for fifteen years and paid two mortgages off with HSBC. My family and I were pre-approved to move to Florida from New York. First I was told I would close by Nov 24th so when my house in New York was sold I was homeless because for weeks I was lied to and told an appraisal was ordered and half the time my loan team was on vacation. So at this point I was homeless for the first time in my life which felt just terrible for my kids and pets... So luckily my sister allowed me to stay with my pets in the garage. Next I was told I was in underwriting with a four day turnaround.
A week later they told me my application could not be found that someone named Jerry signed for it who no one knew and now had all my personal information. After trying to talk to a supervisor I was transferred to different people everyday who were of less help than my dumb ass loan officer. Finally on December 7th I was told verbally and through email my loan was approved so I spent 5000 dollars moving across the country. Upon arrival I was told I had to start process over but no one knew why.
So after three more weeks of sending these negligent idiots the same exact information over and over they say I can't purchase home because I don't have enough employment time in Florida which of course not - I just got here from New York and held the same job since I've been 21... 16 yrs employment same place. And also have three small minimal deposits which they said "Fill out a gift letter - that's all you need. Trust me again." At this point I can't provide resources to show where the 400 deposit came from. I am sick to my stomach and my poor kids are bouncing school to school and once again I'll be homeless because of these lying scumbags. Beware!!!
Back in 2009, we decided to refinance our home loan and roll in our second mortgage and some other bills as well. We were told that if we made payments on time for 6 months, we would be eligible for reduction of our percentage which is 10.75%. After thinking about this for two days, we decided to refinance. Since then, it's been a nightmare. When we called near the end of 2010 to see about the reduction in loan percentage, they told us, they were not doing that program anymore or taking in any new loans. So, we are paying $1389.87 a month.
So, we were stuck. We tried to sock as much on the mortgage as we possibly could. Then in 2012 my hubby got laid off. Instead of paying our property tax on time, I decided to wait until I got my refund back from the IRS. HFC took it upon themselves to pay our taxes for us without our permission. They did this for 2012 and 2013. So, now my mortgage jumped from $1389 to $1589 and some odd change. With medical expenses on the rise, I had to break up my mortgage into two payments. $800.00 one time and $800.00 the next time - which basically is my whole paycheck after taxes and insurance, etc. is taken out. I have even dropped making contributions to my 401K. Well because my payments are late, I get charged the late fees. So, right now with late fees and paying property tax, I have a $3853 dollar mortgage payment.
I can't call them for they offer no solutions. When I do, they tell me to refinance but no one will touch us for our debt to income ratio is too high. We have student loans out of the wazoo because my kids were not eligible for financial aid even though I am working four jobs. We are not rich, we barely make the middle income bracket. I have not been able to make consistent credit card payments because of the mortgage. I was even told by HFC that since I cannot keep up on my payments, I should sell the house. What was once considered the American dream is now the American nightmare! Something needs to give. I should have stayed with Countrywide.
I am with HSBC Mortgage and just found out they are no longer reporting my payments to any of the credit reporting agencies. I called them about it and was told since November 2014 they stopped doing it because of the hard time people fell on in the recession and it was affecting their credit. I asked HSBC Mortgage, "What about the ones who were paying their mortgages, is that fair to us? And why should the good suffer for the bad?" They told me it was also costing the company a lot of money to do the reporting and it was no longer worth it.
I asked to speak to a manager, but got nowhere. All they told me was to send a fax or mail a letter about my concerns and that will start reporting it because it is on a as need basis. I send them a fax which I confirmed that they received it and to date nothing happened. I call them back and they told me I still need to wait a little longer, but this is now going on almost a month. The government needs to step in and fix these issues with HSBC Mortgage. They should not be getting away with it.
I have read at least twenty complaints about HSBC and everybody is saying the same thing. My complaint is like everyone else who has tried to refinance with this company. Our interest rate was 9.25%. We sent in all the necessary paperwork and were denied a hardship loan. This resulted in my filing for bankruptcy. HSBC is not giving me any information or statements from my payments that I am now making to them. I asked for a 2014 interest statement for my taxes in September. The statement was mailed on December 2nd. First HSBC told me they did not have a correct address for me nor a current phone number which is a lie because nothing has changed on my account. I feel that because they are no longer in the US they do not have to follow the laws. Is there anyone out there that can help with our problems? Please let me know ASAP.
When I refinanced my HSBC Mortgage in 2007 before I retired I was told to sign and the Mortgage Protection Insurance would contact me with new policy. The Office Mgr was gone! The New Office Mgr told me the letter of protest from not getting a new policy for Mortgage Protection. HSBC Home Office did not get my letters HAND DELIVERED to my local HSBC OFFICE in Missouri. When I returned the Office was closed permanently July. Asked for Loan Modification every month until November still nothing.
On Nov 25 I received a call FRAUD with HSBC home number as caller I.D. switched to a Fort Lauderdale number 954 278 7579 Jeff ** & Michael ** Identified themselves as Point of Contact, Loan Modification program. **ALL FRAUD** Heavy Pakistani or Indian accents told to send Modified Loan Payment via Walmart Money Gram to Lina ** in California. Finally HSBC Home Office answered their phones and I was told it was a fraud. They had all my HSBC loan information. FBI was informed.
Same thing here. My payments increased dramatically and they won't give me a copy of anything I've asked for. I called and asked them for assistance - maybe a loan modification. They sent me a letter asking for certain documents to be "faxed" to them (fax only? What?), so I did and never heard anything from them except another letter requesting the same documents. I did this three times and still get the same letter in the mail every week. Now they want to foreclose without even talking to me. We need to SUE them!
I truly understand all these dissatisfied customers. I am experiencing the same situations. There were several programs for mortgage companies to participate in that could have help people who were having financial problems but they chose not to. So that lead me to believe they don't want to help anyone. I would like to retire in two years but with $1800.00 mortgage I just don't see it. If anyone thinking about going with this company - bad choice. Very bad choice. I'm 64 years old. I owe more than the house is worth do I feel like I'm renting from them.
They sent me a past due notice over a difference of ten cents... I tried to phone them and was not able to get through... their phone system STINKS. I sent them 10 pennies.
I bought my house through Beneficial over 20 years ago at 65k and had gone through a divorce 5 years ago. The total on my house now is 84k with only 3 late payments total. The divorce agreements states that I had to refinance my home within a year to get my exes name off the property and loan. So here I am 5 years later pissed off after I had just been summoned to court by my ex wife because there is nothing I can do to refinance my home. Ive tried 3 times to refinance and have been turned down every time, even through other companies. When you call HSBC they automatically tell you to try HARP or HUD and they know damn well that they wont accept anyone through HSBC. They just want to get you off their backs.
So I tried to get a loan modification to try and get my interest rate down and went through hell with that. They said they needed 4 consecutive pay stubs which I faxed asap and was told to wait a month for an answer. So I waited a month and no one called so I called them. They told me that I needed 6 pay stubs and a copy of my divorce papers so I faxed all the needed paperwork and was told to wait another month. So I waited and still no call. So I called them. They told me that they still didnt have all the info they needed and they needed an itemized list of my monthly bills and the amounts I pay for groceries, gas and childcare for my 2 children.
So they added everything up and told me that all my bills put me -$200 monthly and they didnt see how I got by so they said it was very likely that I'd get approved for the modification and it would cut my mortgage payment in half. So I waited eagerly for another month to get my loan modification approval only to be told that I was denied and needed to foreclose on my home. I wrote them a long letter pleading to them to help me out so my kids and I dont lose our home and they still denied us. So now I'm being taken to court by ex wife (not my childrens mother) and hoping maybe the lawyers can help me out and everything goes in my favor seeing as how I tried so hard to abide by the law and get this house refinanced and was denied multiple times.
Ran into financial problems the past two years. HSBC put me on a six month forbearance agreement and told me after six months I would be caught up and then they would redo my loan. After six months I called and guess what? They wouldn't redo my loan because I was 3 more months behind on my mortgage. This has now been a 2-year struggle to try to save my house, they just refuse to help and are now threatening foreclosure. I had the house sold at one time they refused the deal, now I have sold it a second time in a short sale, said they would give me an answer in 30 days, guess what so far it hasn't happened.
In the meantime they are charging us crazy fees and interest because they are dragging their feet. Seems like they don't want me to get back on my feet. It would take three days to tell you all the other crap they have put me through. My credit is wrecked thanks to them. I don't know what to do now, can't afford an attorney. Anybody have any ideas? Stay away from the HSBC crooks. Why hasn't the government stepped in to do something? I know I am not the only one who is having problems with this bank.
In 2011 HSBC signed papers along with myself and HEMAP/PHFA, who were helping me and a few months later HSBC tried billing me an extra 1600.00 on an itemized bill that HSBC signed off on. HEMAP had me send them a copy and the 1600.00 disappeared off my monthly statements. Then Mortgage Services took over but they're still HSBC. The 1600.00 started showing up on my statements again. I tried resolving it again but am still being billed for it and I'm sure it's been adversely affecting my credit rating.
Now they're telling me that even though my escrow was paid in full in March 2015 and is paid in full until March 2016, I have a 90.00 shortage in my escrow account even though I have a surplus of 495.00. It is a law that that is the least amount of money that I can have in my escrow account. They alluded that this was an industry standard and all mortgage companies practice this.
This is just the tip of the iceberg I have suffered at the hands of HSBC. I need all the help I can get and I have past statements reflecting the 1600.00 disappearing then reappearing, correspondence, documents with HEMAP. I need legal advice as to why after paying on my house for 8 years, last month 48.88 is what was applied to my principal and although my homeowners insurance is paid in full and still has 5 more months of coverage, 108.30 was taken from my house payment, paid on my escrow, and I still have a 90 something dollar insurance and this has been going on for years. Please if you can help me, **. THANK YOU.
This is an awful company. My original mortgage agency was bought out after 2 years of me paying on time every month and suddenly I was receiving letters from HSBC that they were my new mortgage agency. I didn't mind, until they jumped my mortgage payments and insurance up 200 or more dollars, and I had great credit, then after a couple more years of struggling barely making ends meet my husband got injured and I had lost my job. I couldn't afford the full payment so we were negotiating payments every month and trying to catch up until we realized we needed a little help. They offered a hardship loan during his injury, which we thought was a blessing to help us recover, but it was a nightmare.
We made tons of small payments towards the loan, and none were recorded for 6 months. We discovered after we found out we were being foreclosed on. We called the company. They swore we were ok, that the hardship was going through, but the same day I found out I had to move. They not only lied but never recorded our payments and my family and I lost our home. To top it all off, 6 years later they've been sued and everything else, but still say I owe them money after they screwed me, and their lies and everything are messing my credit up to where I'm unable to get a new home still.
They don't care about us. We're money and just a number. Paying on time doesn't help with them, they'll take everything away from you as soon as something happens, and their insurance is a joke and costs a fortune. They need to be put out of business as they've put so many families out on the streets and no matter what everything is always your fault, don't fall into their hands.
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