For Immediate Release
Media Contact: Kriss Bivens Cloyd
(208) 334-4119

Date: August 15, 2016

Idahoans to Receive Payment from HSBC Settlement

(Boise) - Attorney General Lawrence Wasden announced today that 321 Idaho borrowers whose loans were serviced by HSBC Mortgage and who lost their home to foreclosure because of servicing abuses may receive a payment from HSBC’s $59.3 million national foreclosure fund.

In the next few weeks, eligible borrowers will receive written information about how to file a claim with the settlement administrator.  The amount of the payments likely will exceed $780 depending on how many borrowers file claims.

Eligible borrowers should receive a claim packet in September 2016.  To participate in the settlement, borrowers must complete and submit a claim form to the administrator by November 15, 2016. Details regarding eligibility requirements and the payment process are available at www.nationalmortgagesettlement.com.

The administrator likely will begin mailing checks to eligible borrowers in late February 2017.

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