Consumer complaint received 2016-05-02
Company: HSBC NORTH AMERICA HOLDINGS INC.
State: CA
Product: Mortgage
Sub-product: Conventional fixed mortgage
Issue: Loan modification,collection,foreclosure

Complaint:
I continue to be denied mortgage assistance based on affordability as a result of false income inputs calculated and exploited by HSBC ( XXXX XXXX ). The purpose of this complaint is to obtain the raw data used to calculate the gross monthly income, net monthly income, and total expenses for me that was used to deny me for mortgage assistance multiple times now. 

I provided HSBC ( XXXX XXXX ) with every document that was requested to include a letter of explanation for my income. Nevertheless, HSBC ( XXXX ) has continued to use erroneous income figures to deny me for mortgage assistance. I have requested the raw data from the case manager, XXXX XXXX XXXX, but XXXX XXXX advised that she does not have that data and that I would need to submit a QWR in order to obtain such data, which is the outrageous ; she should be able to convey what inputs were used to deny me for mortgage assistance as my case manager. 

Attached and below, please find the explanation for my monthly income simplified in multiple formats and with multiple letters. I have provided every document that has been requested with regard to my income so if there was any discrepancy with regard to what was stated on the RMA and what was used, there should 've been further requests to validate the income ; no such requests were made to ensure valid inputs. 

With regard to the validation of self-employment income, it would be incorrect to use solely the tax return to establish my self-employment income. All self-employed individuals will tell you that the goal is to minimize tax exposure with business deductions, which is what ALL business owners do to reduce their taxes annually. I listed my monthly gross income at $ XXXX monthly on the attached RMA and that figure has never been disputed nor has there been any additional requests for documentation to validate any portion of my stated monthly income. 

Please instruct HSBC ( XXXX ) to respond immediately with the exact figures used for both the gross and net monthly financial figures, both income and expenses. To clarify, I will need to see each income source clearly on a gross and net level to understand the percentage that was removed by HSBC ( XXXX ). 

Again, please instruct HSBC ( XXXX ) to provide the income figures used to deny me for mortgage assistance, since HSBC ( XXXX ) never did so when requested in the prior XX/XX/XXXX appeal, and since XXXX XXXX conveyed that she DOES NOT have that information. Please be specific because I could not calculate how HSBC ( XXXX XXXX ) set my income at {$4400.00} per month. My monthly gross income is {$9000.00} as evidenced by the aforementioned explanations and supported by the documentation provided and attached. 

Again, please instruct HSBC ( XXXX ) to provide a detailed explanation of the financials used to calculate the new gross and net income for me since I was advised that the taxes were used to calculate current income ; however, the XXXX tax return was used ( covering XXXX income ) and that is not an accurate snapshot of the income received in XXXX ( or what will be received in XXXX ) nor does it appropriately convey the current economic upturn that business owners have experienced and are still experiencing in XXXX and XXXX. Please instruct HSBC ( XXXX ) to recalculate my income in an honest and ethical manner or provide a valid explanation for the HSBC ( XXXX ) Mortgage calculations. 

I absolutely have sufficient income to qualify for mortgage assistance. It is my understanding that HSBC ( XXXX XXXX ) continues to deceptively deny me for mortgage assistance by falsifying or incorrectly calculating my total monthly income for the sole purpose of denying me for mortgage assistance based on affordability. 

Thank you for your assistance with this matter and I look forward to hearing back from you and HSBC ( XXXX ) with regard to this complaint ( and consumer violations ).

Company response to consumer: Closed with explanation