HSBC reported that it has provided $542,503,107 in total relief to 12,116 HSBC borrowers for the second quarter 2016 under the National Mortgage Settlement (NMS). This is self-reported gross data. Of these borrowers, 6,458 received first-lien modification forgiveness totaling approximately $209 million. On average, this represents $32,386 per borrower. In addition, 5,658 borrowers received relief in the form of shorts sales or deeds in lieu.

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 can be downloaded at the links below.

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 toward its required credited consumer relief in his first report later this year.