http://crisis.lenderwatch.org/news/520 Mortgage Crisis Before, During, and After Tue, 11 May 2010 14:24:07 +0000 hourly 1 http://wordpress.org/?v=3.1.4 http://crisis.lenderwatch.org/news/520#comment-3800 News Release - $4.3 billion loss for HSBC in U.S. as losses continue : The HSBC Monitor Sat, 15 Nov 2008 03:00:10 +0000 http://mortgageblues.us/news/520#comment-3800 [...] HSBC said third-quarter profit rose even as it set aside $4.3 billion to cover bad loans in the U.S. and forecast “further deterioration.” The U.S. unit “declined markedly” because of consumer and corporate loan defaults. The $4.3 billion total was more than analysts estimated, thinking HSBC would only lose about $3.7 billion. What’s a few million either way? Further detrioration is an interesting term as well. It means that the economy is getting worse, and HSBC Finance has a target audience that feels the effects more so than others. Investors are preventing some lenders from modifying mortgages, but it is unclear how HSBC is effected in that regard. [...] [...] HSBC said third-quarter profit rose even as it set aside $4.3 billion to cover bad loans in the U.S. and forecast “further deterioration.” The U.S. unit “declined markedly” because of consumer and corporate loan defaults. The $4.3 billion total was more than analysts estimated, thinking HSBC would only lose about $3.7 billion. What’s a few million either way? Further detrioration is an interesting term as well. It means that the economy is getting worse, and HSBC Finance has a target audience that feels the effects more so than others. Investors are preventing some lenders from modifying mortgages, but it is unclear how HSBC is effected in that regard. [...]

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