HSBC North America Holdings Inc. Mortgage Complaint

HSBC North America Holdings Inc. Mortgage department,

Conventional fixed mortgage Application, originator, mortgage broker California

Working on HSBC re-fin. Ask us to buy additional - insurance to cover further improvements and betterments that DO NOT even exist. First, according to - rule, - does not require - insurance when master EOI is covered all. Our master EOI confirmed the developer had the CC & Rs written as such so that the - requirement would be waived by lenders when first selling the units. Master EOI confirmed upgrades, betterments and improvements provided by the developer to the original unit owner are covered by the - per CC & Rs. As I noted below, developer had CC & Rs drafted as such to waive the - requirement of lenders for the first unit owners. Any further upgrades, betterments & improvements that may be done - ie. later by unit owner - are NOT covered. HSBC underwriter asked us to provide the CC & R statement and we did and now HSBC underwriter ignored this CC & R policy. There is no further improvement and betterments in our property. Hence, there is no reason to buy - policy to insure improvements and betterments that DO NOT even exist. I spoke to the loan processor and HSBC loan processor argues their policy to cover " FUTURE improvements and betterments. '' I believe the - policy is covered the current items not future items or any non-existing items. Note : HSBC has settlement in Massachusetts with Homeowners - Once a homeowner shows proof he has other insurance coverage on his house, the force-placed insurance should be removed.