January 01 2008
HSBC - North America Allocates $100,000 Towards Operation HOPE Silver Rights Initiatives
World\'s Leading Financial Institution Contributes Resources to Nonprime Homeownership Help Hotline
LOS ANGELES, CA--- January 17, 2008 --- Demonstrating support for Operation HOPE and the organization\'s efforts to aid the increasing number of homeowners facing mortgage problems, HSBC - North America ("HSBC") is investing $100,000 towards HOPE\'s National Mortgage Crisis Hotline and assistance programs.
"We are pleased to have HSBC join our call to empower communities and individuals through silver rights -- a movement that brings financial literacy to the disenfranchised," said Fred Smith, managing director of HOPE Coalition America. "Through the partnership, HOPE will be better equipped to help the growing number of families searching for ways to preserve homeownership."
As one of the top 10 financial services companies in the United States, HSBC supports a broad range of financial education and homeownership programs that provide funding, tools and resources for all Americans. "HSBC is delighted to partner with Operation HOPE on this important program to help homeowners in our communities," stated Loretta Abrams, vice president of Consumer Affairs, HSBC - North America. "At HSBC, we believe that financial education is the key to homeownership. That\'s why we make financial education a priority in our community outreach programs."
HOPE\'s Mortgage Crisis Hotline was first introduced in April 2007 in partnership with Los Angeles City Council President Eric Garcetti\'s office. The initiative is backed by an in-kind contribution for office accommodations by First American Corp. The toll-free hotline allows callers to get help negotiating with their lenders, applying for a loan modification, restructuring existing debt and refinancing their home along with a variety of other helpful options. More than 5,000 callers have already expressed an interest in using the service.
About HSBC - North America
HSBC - North America comprises all of HSBC\'s U.S. and Canadian businesses. The company\'s businesses serve nearly 60 million customers in five key areas: personal financial services, consumer finance, commercial banking, private banking and corporate investment banking and markets. Financial products and services are offered under the HSBC, HFC and Beneficial brands.