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DOJ reaches $470 million joint state-federal settlement with HSBC over mortgage loan origination, servicing, foreclosure abuses

( February 5, 2016, 17:02 GMT | Official Statement) -- MLex Summary: The US Department of Justice, the Department of Housing and Urban Development and the Consumer Financial Protection Bureau, along with 49 state attorneys general and the District of Columbia’s attorney general, have reached a $470 million agreement with HSBC Bank and its affiliates to address mortgage origination, servicing and foreclosure abuses. “This settlement illustrates the department’s continuing commitment to ensure responsible mortgage servicing,” said the DOJ’s Benjamin C. Mizer.Statement follows in full. ...

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