AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
HSBC - HI Merge, Late Payments Up.(HSBC Holdings-Household International merger )
It's official: HSBC Holdings, London, now owns Household International here, the third largest residential subprime servicer in the U.S.
In late March, after obtaining final regulatory and shareholder approvals, HSBC paid its $14 billion and took control of the unit whose forte is lending and servicing mortgages and issuing credit cards to consumers with blemished financials.
But what exactly will the "A" paper, blue-blood foreign bank do with Household?
For now, HSBC officials aren't saying. "We're not ready to comment on strategy," said a company spokesman. But one thing's for certain: HSBC and Household will have to deal with rising delinquencies.
In its last 10-K filing as an independent company, Household revealed that its mortgage delinquencies were on the rise, as were its credit loss reserves. According to year-end financial data, Household saw its real estate-related delinquencies (primarily residential loans) increase 49% over 12 months.
According to the filing with the Securities and Exchange Commission, Household had a real estate-secured delinquency ratio of 3.91% at Dec. 31, compared to 2.63% at the end of 2001.
The ratio is the "two month-and-over contractual delinquency ratio," according to the filing.
- The Sugar daddies; SIR JOHN HALL: ESTIMATED FORTUNE; pounds 160 million.(Sport)
- Newspaper article from: The Mirror (London, England) Clarke, Nigel September 14, 1996 700+ words
...Manchester United. Said Sir John: "He was not ready to...of Milan's San Siro. Sir John's long-term plan is...department of sports science. Sir John added: "You can see...their boom club into a household name - globally. "We...
- Met chief to walk Diana's route of death; IT'S VITAL TO VISIT SCENE OF...
- Newspaper article from: The Evening Standard (London, England) April 15, 2004 700+ words
...METROPOLITAN Police Commissioner Sir John Stevens is to visit the scene...took on the night she died. Sir John announced today that he will...Burgess, Coroner to the Queen's Household, called on Sir John to lead a new police inquiry...
- Sugar's a bully, says Sir John.(News)
- Newspaper article from: The Birmingham Post (England) May 11, 2006 700+ words
Business guru Sir John Harvey Jones hit out at The Apprentice...of business reality TV himself, Sir John became a household name in the late 1990s with his Troubleshooter series. Sir John, aged 82 insists the ethos behind...
- LET THE GOOD TYNE'S ROLL; Sir John eyes Euro mega money.(Sport)
- Newspaper article from: The Mirror (London, England) February 20, 1997 700+ words
Newcastle United chairman Sir John Hall stands to pick up more than pounds...future may be bright, but for now Sir John has to wrestle with the problems of...pounds 1.75m. Made himself a household name, and Newcastle a pounds 5m profit...
- ARISE, SIR JOHN ELTON; Official fluffs star's name as Queen knights him.(News)
- Newspaper article from: The Mirror (London, England) Mellor, James February 25, 1998 700+ words
...stepped forward for his big moment, he was announced as "Sir John Elton." The blunder was made by the Lord Chamberlain Lord...the way it is." Lord Camoys, 57, is Head of the Queen's Household. He took up his post at the start of the year and it was only...
- HSBC after Sir John Bond.
- Newspaper article from: Sunday Business (London) December 4, 2005 700+ words
...one of the longest-serving executives in the industry. Sir John Bond, who has been with HSBC for 45 years, will leave in...bold acquisitions. The biggest was the successful purchase of Household International in the US for [pounds sterling]9bn, which...
- City View: Sir John throws gloom on e-boom.
- Newspaper article from: The Birmingham Post (England) Maunsell, Nevill Boyd February 10, 2000 700+ words
Nine out of ten of these Internet companies will go bust. Sir John Harvey-Jones says so, the one-time TV Troubleshooter and...Yesterday, the FTSE-250 index containing many West Midland household names, did distinctly better than the Footsie. But over the...
- Viewpoint: 'No Nation Was Ever Ruined By Trade' - Free Trade Benefits Rich And...
- Magazine article from: The Banker December 1, 2005 700+ words
...boost US income by $500bn a year, equating to $4500 per household. At the same time, it is necessary to recognise that there...18th century: "No nation was ever ruined by trade." Sir John Bond is group chairman of HSBC Holdings plc
