Beneficial Home Loans

Beneficial Home Loans was part of the Beneficial Corporation, a major consumer finance company founded in 1914. Household International acquired Beneficial in 1998, and HSBC Holdings plc subsequently acquired Household International in 2003, rebranding its consumer lending operations, including Beneficial, under the HSBC umbrella. The company was a significant player in the U.S. mortgage market, often focusing on subprime lending. In the wake of the 2008 financial crisis, HSBC announced it would largely exit the U.S. consumer lending market, ceasing new loan originations through the Beneficial brand and placing the existing loan portfolio into run-off.