How will I be billed each month for my mortgage?
You will receive a monthly statement in the mail to make your payments each month. New customers will receive a first payment statement with your closing package. This can be used if you do not receive your first billing statement before your first payment is due. You can also log into Personal Internet Banking and request to receive electronic notification that your statements is available to review to avoid delays by simply clicking on your Mortgage or Home Equity account.
If I have selected Automatic Payments as my payment option, when is my payment draft date?
Your payments will be drafted from your designated bank account on the payment due date. You can choose up to 11 days after your payment due date (indicated on your mortgage Note) that you would like the payment to be drafted. If the draft day falls on a weekend or holiday, your payment will be drafted on the next business day.
• What types of accounts can be drafted?
Your payment can be drafted from any US based financial institution Checking or Savings account
How do I stop my Automatic payments before the next draft date?
If you wish to discontinue your automatic payment, please contact us at least 30 days prior to the next draft date. We will send you a billing statement for future payments.
Please send a written cancellation request to:
HSBC Bank USA, N.A.
Attention: Drafting
1 Corporate Drive, Suite 360
Lake Zurich, IL 60047-8945
Can I make additional principal payments with Automatic payments?
Additional principal payments can be drafted on a monthly basis along with your regular monthly payment. The additional principal amount must be the same amount each month. Please notify us of your desire to do this. If you wish to occasionally make additional principal payments, your check should be mailed to
Payment Processing
Mail Stop 1270
1 Corporate Drive, Suite 360
Lake Zurich, IL 0047-8945
What is your turnaround time for posting payments?
All payments are posted to your account effective the date of receipt at our Payment Processing Center.
If I am in the process of prepaying my loan in full, should I notify Customer Service to stop my Automatic payment?
Yes, please contact us to cancel your automatic payment 30 days prior to the payoff date of your loan. If your mortgage payment due date occurs before the payoff date, you are still responsible to make this monthly mortgage payment.
If I don't make my mortgage payment on time, will I be reported to the credit bureau?
Payments are typically due on the first day of each month. However, we do offer you a 15-day grace period before late charges are assessed. If your payment is not received by the last business day of the month, you risk being reported to the credit agencies.
May I overnight my payment to you?
Yes, you may overnight any payment to us.
Mail Stop 1270
1 Corporate Drive, Suite 360
Lake Zurich, IL 60047-8945
If I bounce a check, will the check be presented to my bank a second time?
It is not guaranteed that we will present your check a second time. Please check with your bank regarding their procedures.
I recently utilized Western Union to make a payment, but forgot your Western Union code city. What is it?
The Code City is Woodfield, IL.
