National HSBC Mortgage Class Action Settlement

Borrowers must meet certain minimum criteria to be eligible to receive a settlement payment. In particular:

• The loan was serviced by HSBC at the time of the foreclosure sale
• The loan went to foreclosure sale between Jan. 1, 2008 and Dec. 31, 2012
• The borrower made at least three payments on the loan
• The home (or foreclosed property address) was, or was intended to be the borrowers’ primary residence at the time the mortgage loan was obtained
• The borrower had a mortgage loan secured by a one-to-four unit residential property
• The unpaid principal balance of the first-lien mortgage loan did not exceed $729,750 for a one-unit property; $934,200 for a two-unit property; $1,129,250 for a three-unit property; or $1,403,400 for a four-unit property.

Note: Borrowers will be ineligible to receive a payment from the National HSBC Settlement if they received a payment from: (i) The National Mortgage Settlement, involving Bank of America, JP Morgan Chase, Citibank, Wells Fargo, and GMAC/Ally, (ii) the National Ocwen Settlement, involving Ocwen Loan Servicing, Litton Loan Servicing, and American Home Mortgage Servicing Inc. (AHMSI) aka Homeward Residential; or (iii) the National SunTrust Settlement.

Borrowers from Oklahoma are not eligible for any of the direct payments because Oklahoma elected not to join the settlement.