Public Mediation

HSBC Bank USA, N.A.-Dispute-#2078690

S. M. vs. Hsbc Bank Usa, N.A.
1800 Tysons Boulevard Suite 50, Mclean, Virginia, 22101, United States
Amount Involved: $17,075.73
    • Status: In Negotiation
      This claim has posted for public comment and negotiation. It will remain posted until resolved to the claimant's satisfaction. Suggest a resolution to help these parties reach a settlement.
       (seeking public comment)
    • Claimant Seeks: View.
    • Claim #: 2078690
    • Amount Involved: 17,075.73
    • Filed On: Dec 30, 2012
    • Posted On: Jan 10, 2013
    • Complaint(s):
      • Bad business practices
      • Contract / Agreement / Promise dispute
      • Overcharge or billing error
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Statement of Claim
Complaints Involved (3) - View
Claimant says:
"Improperly added fees, Improperly broke the law after requests to remove pmi after appropriate time and balance was achieved. Was sent into foreclosure twice improperly and made to pay the attorney fees even though no foreclosure happened. Constantly called and harassed for a payment when payments aren't due."
...
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Additional Communication Between Claimant and Hsbc Bank Usa, N.A. Hide
  • Jan 25, 2013, Claiming party added:

  • I just realized today looking over my progress on their payment plan with with me to catch up(paying exactly as agreed), that they are STILL adding late fees every month! What is the point of making a "plan" with me, if the "plan" never gets me out of FEE HELL?

What Claimant Wants Hide
1. Refund: attorney fees plus all other fees Mar 30, 2013 $6,000.00
2. Pay me for my time: 12/hr for 80 hrs of dealing with nonsense Mar 30, 2013 $960.00
3. punitive damages Mar 30, 2013 $10,000.00
4. Pay me interest $115.73
5. Other – Pay for claim posting cost Mar 30, 2013 $7.99
Cash total : $17,083.72
1. Credit: credit towards mortgage Mar 30, 2013 $20,000.00
2. Other – Pay for claim posting cost Mar 30, 2013 $7.99
Cash total : $20,007.99
  • 0
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Respondent's Counteroffer

There has been no response to this claim from HSBC Bank USA, N.A.. This claim will remain posted until resolved
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  • Comment: by Sarah Baxa — Online mediator
    • On: 01-14-2013
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  • I agree with Jennifer regarding stipulations to end PMI. My lender requires that there have been no late payments in the last year (over 30 days) and no late payments over 60 days in the last 2 years as well as having all late fees and penalties paid in full. If all of these requirements are met as well as the loan to value (LTV) ratio has been reached, then my lender will remove the PMI. Your lender should have sent you a notice outlining the requirements to remove PMI as they are required to when you are eligible based on the loan to value ratio. The information they send you will tell you what other requirements you must meet. I believe my lender requires a written request at 80% LTV and will automatically terminate PMI at 78% LTV if all requirements are met. With the housing boom and subsequent crash, many lenders are scrambling to clean up the mess and unfortunately they were ill prepared for what they had to do. Nonetheless, your situation warrants further investigation and a consultation with an attorney may be the best because of all the legal implications involved. Before you seek out an attorney, gather all the relevant documents you have and outline, in chronological order, what has happened to lead you to seek the advice of an attorney. Best of luck.
  • Comment: by Alan — Online mediator
    • On: 01-14-2013
    View more
  • Banks love fees. The new laws that restrict banking activity, while superficially meant to protect consumers are only going to promote more nickel and dime fees by banks to make up for loss of Prop trading- which subsidized consumer services. Anyway, not sure if you used PeopleClaim's "copy your claim to regulators" feature, but this is one case where makes sense. the current administration hates banks and loves to go after them. In your case it seems warranted, so I'd use that feature or forward your claim yourself to the new Consumer Protection agency. They might just add it to their file, but when enough people complain- either on peopleclaim or with the feds, action will be taken. Hopefully HSBC will just do the right thing and fix the problem when they read this claim and comments but you never know with banks.....
  • Comment: by Jennifer Sheehy — Online mediator
    • On: 01-12-2013
    View more
  • In researching your claim, there are various issues that are potentially raised. For one, your mortgage company is supposed to let you know about PMI options and cancellation options if you have satisfied all the requirements under that supplemental insurance program. However, if you have been at all late on any payments, there is the possibility that the mortgage company can refuse to honor a cancellation request. In this situation, perhaps sitting down with a legal professional with all of the paperwork associated with your loan and a requested payment history from your mortgage company can assist you and let you know what your options are in regards to your mortgage loan.
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