Posts Tagged ‘Decision One’

The ghost of Household International is dead

Written by Timothy Blake on March 05, 2009 under Lenders

As mortgage blues continue, one more lender is gone from the American landscape. That lender is HSBC Finance, formerly known as predatory lender Household International.

Countrywide – Why is everybody picking on me?

Written by Timothy Blake on August 26, 2008 under Government Positions

In the YouTube video below you see a Countrywide advertisement that shows people that were turned down elsewhere for home loans. “But Countrywide can” give them the loan they need, according to the advertisement. My point is this – Countrywide was acquired by Bank of America. Now they seem to be an easy target, when you and I know very well that Countrywide is not the only abuser. Check this out, and the articles continues below:

HSBC Chairman Stephen Green calls Household International a disaster

Written by Timothy Blake on November 24, 2007 under Analysis, Archives, International, Lenders

Stephen green made a presentation to analysts on Friday, 23 November. For the first time Green admitted that Household International had been an essentially disastrous acquisition for HSBC, that not all other diversifications had been successful, and that total shareholder return had underperformed peers. Household International is now called HSBC Finance, and HSBC previously said it would keep the HFC and Beneficial Finance brands. Now HSBC is rethinking that logic. HSBC Finance also has credit card operations, auto financing, and owned now-defunct Decision One Mortgage.

Lawmakers and subprime – a joke again this time?

Written by Timothy Blake on November 16, 2007 under Archives, Editorial, Opinion

U.S. lawmakers tried it in 2002. They tried it again in 2005, but some like Bob Ney of Ohio went to prison instead. Now they are trying it again. The most comprehensive legislative response to the subprime crisis emerged on Thursday as the House of Representatives passed a bipartisan bill imposing liability on companies that package mortgages into securities and setting new standards for mortgage origination. Now it reminds me of a time when rustlers stole all the cattle, killed the rancher’s dog, and burnt the barn to the ground. Too little too late. Where was the OCC while the problem built up over the years? What the Bush administration did might surprise you.

Expect HFC, Beneficial Finance Closings as HSBC Cuts Back

Written by Timothy Blake on October 17, 2007 under Analysis, Archives, Job Losses, Lenders

Analysts at Household – HSBC Watch think HSBC learned from the recent subprime crisis, regardless of what they tell Knight Vinke and other activists. After studying HSBC and Household International for many years Household – HSBC Watch thinks HSBC will make a move soon. Changes must look like they are HSBC’s idea, not forced by others. Saving face is important to HSBC. From a business and profit standpoint this is what should happen soon:

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