HSBC Mortgage Services - Home

Hqdefault.jpg

Wells Fargo might want to "test" the sale of its mortgage-servicing rights, the bank's chief financial officer said, opening up the possibility that Wells might join the likes of Bank of America and other lenders that have sold off the servicing of some of their loans.

But Wells Fargo is not under any capital pressure to sell the rights, Tim Sloan said during an investor conference that was broadcast online Tuesday. Sloan did not say when Wells might start selling the rights, if it does at all.

Some lenders have been selling off the rights to service the mortgages they originate. For example, Bank of America in January said it signed agreements to sell the servicing rights on 2 million home loans worth a total of roughly $306 billion.

Fannie Mae, Freddie Mac, Ginnie Mae owned some of those Bank of America loans, while the rest of the mortgages were part of securities not backed by the government-sponsored enterprises.

San Francisco-based Wells, the U.S.'s largest residential mortgage lender and servicing company, is heavily focused on cross-selling its products and services. In his presentation, Sloan touted that Wells had record cross-sales in the fourth quarter, with its retail-banking operation cross-selling 6.05 products per household.

The bank's goal is eight products per household, he said.

"The longer a customer has been with Wells Fargo, the more products that they have with us, " Sloan said.

But, if Wells no longer services a homeowner's mortgage, it could mean a lost opportunity to cross-sell to them.

Sloan made it sound like any decision by Wells to sell the rights to service its mortgages might not be made in the near future.

"We don't feel that we're under any terrible pressure to sell our MSR, " he said. "We've got an adequate amount of capital.

"We thought it was a good idea to hold onto the servicing, because in a low (interest) rate environment like we've been in, which creates a tremendous amount of refinance volume, generally you get the first call as a servicer."


Ohio AG files second suit against a mortgage servicer.(Briefing Book)(Carrington Mortgage Services LLC)(American Home Mortgage Servicing Inc.)(Richard ... General): An article from: Mortgage Banking
Book (Mortgage Bankers Association of America)

OP: mortgage

2006-12-19 05:44:42 by come2gether

I am a mortgage professional.
6.25% has a margin built in for the banks profit, but if you walk into a local bank, odds are there are few if any additional costs to the loan. Brokers, like myself, will shop several banks and lenders for you and can offer wholesale rates with lower margins, but most will charge an origination fee for their services. right now, many of the largest banks, Citi, HSBC, Washington Mutual, as examples, are offering huge incentives for brokers to lend in low to moderate income areas. Go to to find out if your address meets the low to moderate income tract

Cleaning it up HSBC has reduced................

2009-08-03 10:41:34 by Grow4u

Since it began to run down its US personal financial services including mortgage operations in Q107, HSBC has reduced its consumer finance portfolio by $34bn to $91bn — by 27% in total — and by $9bn in H109 alone. The business segment saw a pre-tax loss of $2.9bn in H109.

Gov't orders 15 lenders to reimburse homeowners

2011-04-13 11:01:48 by Listen_to_meh


WASHINGTON – The federal government ordered 17 mortgage lenders and servicers on Wednesday reimburse homeowners who were incorrectly foreclosed upon.
The Federal Reserve, Office of Thrift Supervision and Office of the Comptroller of the Currency also told the lenders and servicers to hire auditors to see if they improperly foreclosed on homeowners in 2009 and 2010. About 2.4 million first-lien mortgages were in foreclosure at the end of last year.
Critics, including Democratic lawmakers in Congress, say the order is too lenient on the lenders

You might also like:

Hsbc flexi loan
Hsbc flexi loan
Modify your Mortgage Loan - …
Modify your Mortgage Loan - …

Exhibit A: Reality TV footage becomes a legal tool with tax collectors and in ..  — Contra Costa Times
With families such as the Kardashians and those on the "Real Housewives" shows opening up their homes in cities across the country, lawyers to the stars see reality television crews as a weapon that can be used against their clients. O'Neal's ..

With court ruling, clergy housing allowances come in for intense scrutiny  — La Crosse Tribune
Congress has offered this tax break to all clergy members — ministers, rabbis, imams — for decades, a perk that collectively lessens their tax burden by about $700 million annually, according to a recent congressional estimate.

BiblioGov Housing: Weaknesses in Servicing and Accounting for Home Mortgages Held by HUD: Fgmsd-79-41
Book (BiblioGov)

Temporary unempolyment benefits expire Saturday  — Canton Repository
"I've got one more paycheck coming," he said. "That impact (of losing it) will be severe. Whatever cable package we have will now go down to the basic cable. .. there'll be no computer on in the house. ..

BiblioGov Home Ownership: Mortgage Servicing Transfers Are Increasing and Causing Borrower Concern: Rced-90-62
Book (BiblioGov)
Hitting home runs in servicing.(mortgage servicing): An article from: Mortgage Banking
Book (Mortgage Bankers Association of America)
Gulf Thunder Corporation Mortgage Field Services: How To Start Your Own Mortgage Field Services Business And Why You Might Not Want To
eBooks (Gulf Thunder Corporation)

Related posts: