“Even though my account is and has been in good standing — and I also pay $241.72 extra payment on top of my mortage due amount every month since I’ve had this account — HSBC charged a late fee of $143.91. This is for a standard, conventional, 30 year fixed mortgage. We surveyed 10 other mortgage holders. If they pay after the 15th but before the 28th of the month the maximum late fee for the group suveyed was no more than $19. Is the HSBC late fee a percentage of the payment? As with most of HSBC’s fine print the extra $241.72 this person sends every month certainly does not offset anything. The matter hinges around when HSBC decides to process the payment.

This particular case involves a person who sends their payment to HSBC using Wells Fargo online bill pay. At most banks and finance companies customer satisfaction is paramount. Not at HSBC. There was no waiver, no understanding, and no help.

Even if you have a conventional loans from HSBC I suggest you get rid of it. There is enough heartache from ARM’s, adjustables, and liar loans. HSBC is losing money, losing market share, and losing face. Now we see inflexible criteria for conventional loans. As far as conventional mortgage lenders are concerned HSBC is still predatory lender Household International with an HSBC name. If the loan mentioned here is serviced by HSBC USA it is safe to say that the predatory cancer has spread to other parts of HSBC. Infecting the entire organization in the United States, a potential borrower must understand that HSBC is a “pay for performance” organization. They want your payment, the extra $241.74, and their additional $143.91. But not really — the truth is that HSBC does not want the extra $241.74!

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