HSBC Holdings PLC, London, is taking a larger-than-expected $3.4 billion third-quarter loan impairment charge, $700 million of which is related to unanticipated U.S. real estate-secured declines, but the company says the negative developments would be "more than offset" by revenue growth in other areas.U.S. subsidiary HSBC Finance Corp., Prospect Heights, Ill., said in a Nov. 14 report that it has seen a "marked increase in delinquencies" in mortgages originated by its retail branches. The nonmortgage portion of HSBC Holdings' overall loan impairment charge was "largely due to branch unsecured loan and cards portfolios," according to the company. HSBC can be found on the Web at http://www.hsbc.com.
-
The lender recorded a $59 million net loss in the fourth quarter, an 83% improvement from its third quarter performance.
2h ago -
Initial analyses of Home Mortgage Disclosure Act data show UWM ahead in 2023 loan numbers and dollar volume, but Rocket's market share still looks competitive.
3h ago -
Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
3h ago -
The pending end of the program comes as over half of U.S. states have already ceased accepting new applicants for federal aid aimed to help struggling households with mortgage payments.
4h ago -
But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
4h ago -
Mortgage payments rose 10% year-over-year to an all-time high for March, Redfin said.
5h ago