The Real Deal Miami

HSBC suspends foreclosures

March 03, 2011 12:39AM

According to a financial report released last night, HSBC has suspended
foreclosures indefinitely, citing problems with processing of the cases.
“Management is reviewing foreclosures where judgment has not yet been
entered and will correct deficient documentation and re-file affidavits
where necessary,” the report said. “We have suspended foreclosures until
such time as we have substantially addressed noted deficiencies in our
processes.” The report said HSBC is responding to federal inquiries
concerning its foreclosures and other practices, including processing
and signing of affidavits. [Palm
Beach Post]