Our Industry leading Responsible Lending Practices

HSBC Credit Center recognizes that employing the best practices in the consumer lending industry is essential. We believe we follow the best practices that matter, including several leading practices that set the gold standard for consumer protection within the consumer finance lending industry, such as:

• A Net Tangible Benefits Test - clear, well-disclosed components of the test makes sure any Real Estate loan transaction gives the borrower a "reasonable, tangible net benefit."
• A cancellation guarantee that allows customers a full 10 days to change their mind to cancel a loan, repay it and receive a refund. *
• Rewarding Real Estate customers who regularly make their payments on time with lower interest rates through our Pay Right Rewards program.
• English and Spanish documents are available in our branches.

In addition, we follow other responsible lending practices that consumers should expect from their lender, such as:

• We offer a portfolio of competitively priced fixed-rate loan products tailored to meet the needs of borrowers.
• We disclose and explain options clearly. Our customers can choose between a real-estate secured loan with prepayment fees (capped at 24 months, the lowest in the industry) and a lower-interest rate or a loan with a higher interest rate but no prepayment fees.
• We provide many simple and convenient payment options, including an "EZ Pay" program that provides for automated on-time payments.
• We offer foreclosure-avoidance programs.
• We do not offer single-premium credit insurance on real estate secured loans.
• We do not offer loans with negative amortization.
• We do not refinance below-market-rate loans from nonprofit organizations, such as Habitat for Humanity.
• We employ state-of-the-art policies, diligence practice and internal controls to our compliance, reporting and review systems and procedures.
• We help customers understand the basics as well as the more detailed aspects of credit with a consumer financial education program that emphasizes responsible money management.