A $1.6B settlement remains possible
Mega European bank HSBC Holdings (HSB) is preparing for the worst by announcing it could take a hit of up to $1.6 billion on toxic mortgage-backed securities sold prior to the housing meltdown.
Reuters says the bank is in the midst of dealing with a legacy MBS case. If estimations prove correct, the European firm is facing a big payout.
In this week’s episode of the Power House podcast, HousingWire President Diego Sanchez sits down for a tantalizing conversation with Frank Martell, the president and CEO of loanDepot, to discuss the company’s profitability in the third quarter of 2024 and its Project North Star growth plan for 2025.
