HSBC Mortgage Services’ 2010 annual report was recently made public. The report stated that HSBC is no longer processing home foreclosures, having suspended them in December. At least two cases, however, are still making their way through Florida courts, according to a Daily Finance story.

It is unclear what HSBC’s announcement ultimately will mean, especially for homeowners facing foreclosure. If HSBC is suspending foreclosures, then shouldn’t all cases have come to a halt?

Another statement from HSBC that is uncertain is its claim that it does not “robo-sign” documents (sign documents without verifying the information within). The two Florida foreclosure cases mentioned in the article seem to rely on robo-signed documents.

In these cases, HSBC does not appear to have originated the documents because it is not the servicer of the mortgage loans; it may merely be the trustee of a trust that holds the loan. Even so, the foreclosure actions are made in HSBC’s name.

The two Florida home foreclosure cases examined by Daily Finance show that, even though Wells Fargo is the loan servicer, HSBC will benefit from the foreclosure by receiving the properties in question

Why, the writer asks, does HSBC say that it has stopped foreclosures?

It is possible that HSBC has yet to communicate this information to the parties that represent its interests. It is also possible that HSBC does not consider the aforementioned types of cases to be its own foreclosures.

Time will tell what HSBC truly meant when it wrote that it was no longer processing foreclosures. No matter what happens, any homeowner facing foreclosure should consult an attorney. The methods and public statements of corporations might not always be clear, but an attorney who understands Florida foreclosure law is an essential ally.

Source: Daily Finance, “What Do HSBC’s Foreclosure Moratorium and Robo-Signing Claims Really Mean?,” Abigail Field, March 4, 2011