WASHINGTON, D.C. – Attorney General Karl A. Racine today announced a $470 million joint state-federal settlement with mortgage lender and servicer HSBC to address mortgage origination, servicing, and foreclosure abuses. The settlement includes the District of Columbia and 49 other states, the U.S. Department of Justice (DOJ), the U.S. Department of Housing and Urban Development (HUD), and the Consumer Financial Protection Bureau (CFPB).
The settlement will provide several forms of relief to eligible borrowers in the District and safeguards against future abuses. They include: