HSBC reported its gross consumer relief activities completed under the National Mortgage Settlement (NMS) through the first quarter 2016 to Monitor Joseph A. Smith, Jr.

According to its self-reported, gross data, HSBC provided $534,716,528 in total relief to 11,919 HSBC borrowers. Of these borrowers, 6,438 received first-lien modification forgiveness totaling approximately $208 million, which, on average, represents $32,456 per borrower. In addition, 5,481 borrowers received relief in the form of shorts sales or deeds in lieu.

This data is self-reported, gross consumer relief and has not been tested against the Settlement’s crediting formulas. The Monitor will report on his review of HSBC’s progress towards its required credited consumer relief in his first report later this year.

HSBC is required to send these reports to each state that is part of the Settlement with copies to the Monitor and the Monitoring Committee. The state-level data for the can be downloaded at the links below.