FOR IMMEDIATE RELEASE
June 7, 2017

Contact:
Valerie Procopio
919-508-7821

NMS Monitor reports HSBC fulfills Settlement obligation
Joseph Smith reports on HSBC’s compliance with the NMS through the end of 2016

RALEIGH, N.C. – Joseph A. Smith, Jr., Monitor of the National Mortgage Settlement (NMS), reported that HSBC did not fail any metrics during the second half of 2016 and has fulfilled its obligation under the NMS.

“HSBC has completed its obligations to the NMS,” Smith said. “The servicer will continue to remain accountable to servicing-related rules issued and enforced by the CFPB.”

In March, Smith reported that HSBC completed its consumer relief obligation with the Settlement. In total, the servicer provided $371,075,290 in consumer relief to more than 11,000 borrowers.

Smith’s report is a summary of a report he filed with the Court. This summary includes HSBC’s compliance through Dec. 31, 2016. This report, as well as past reports, can be found on Smith’s website, www.mortgageoversight.com.

About the Office of Mortgage Settlement Oversight
More information about the National Mortgage Settlement is available at www.nationalmortgagesettlement.com. Further information about Joseph Smith and the Office of Mortgage Settlement Oversight is available at www.mortgageoversight.com.

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