
HSBC agreed to pay $26.8 million in settlement of allegations it securitized subprime residential mortgage loans that were unfair and in violation of Massachusetts law. $5 Million went to the Commonwealth to compensate government entiities and the remainder was used for principal reductions and assisting those who suffered foreclosure. For more info visit https://wayback.archive-it.org/1101/20181226215837/https://www.mass.gov/news/hsbc-to-pay-268-million-for-securitization-of-subprime-mortgages