	Exhibit 99.1
	MONTHLY DISTRIBUTION STATEMENT TO CERTIFICATEHOLDERS

	HSBC Home Equity Loan Trust (USA) 2006-4

	Distribution Number	6
	Beginning Date of Collection Period	1-May-07
	Ending Date of Collection Period	31-May-07
	Distribution Date	20-Jun-07
	Previous Distribution Date	21-May-07
	Floating-Rate Certificates Interest Period Beginning On	21-May-07
	Floating-Rate Certificates Interest Period Ending On	19-Jun-07

	Funds Disbursement
	Collected Funds (including Servicing Fee)	30,959,360.14
	Available Distribution Amount	30,547,995.64
	Principal Collections	24,519,977.78
		24,519,977.78
	Net Interest Collections	6,028,017.86

	Interest Collections	6,439,382.36
	Principal recoveries	0.00
	Compensating Interest	0.00
	Servicing Fee (after Compensating Interest)	411,364.50

	Disbursements	30,959,360.14
	Current Interest and Interest Carryforward Amount Distributed to Certificateholders	3,666,575.09
	Principal Distribution Amount to Certificateholders	24,566,403.70
	Unpaid Realized Loss Amount to Certificateholders	0.00
	Net Rate Carryover Amount to Certificateholders	0.00
	Remaining Available Distribution Amount to Class R Certificateholder	2,315,016.85
	Servicing Fee after Compensating Interest (to Servicer)	411,364.50

	Other payments or reimbursements to Servicer pursuant to Section 3.03	0.00

	Pool Balance
	Beginning Pool Balance	987,274,801.35
	Principal Collections (including repurchases)	24,519,977.78
	Realized Loss	46,425.92
	Ending Pool Balance	962,708,397.65

	Certificate Balance
	Beginning Certificate Balance	796,667,843.59
	Certificate Paydown	24,566,403.70
	Applied Realized Loss Amount	0.00
	Ending Certificate Balance	772,101,439.89

Collateral Performance
Cash yield (% of beginning balance, annualized)	7.83%
Loss rate (% of beginning balance, net of principal recoveries)	0.06%
Net yield	7.77%
Realized Losses	46,425.92
Cumulative Realized Losses	69,023.58
Cumulative Loss Percentage	0.01%
Delinquent Loans:
One payment principal balance of loans	9,762,063.03
One payment number of loans	70
Two payments principal balance of loans	2,157,272.08
Two payments number of loans	19
Three payments plus principal balance of loans	2,473,072.02
Three payments plus number of loans	23
One Payment Delinquency Percentage (for related Collection Period)	1.01%
Two Payment Delinquency Percentage (for related Collection Period)	0.22%
Two Payment Plus Delinquency Percentage (for related Collection Period)	0.48%
Two Payment Plus Rolling Average (for such Distribution Date)	0.33%
Three Payment Plus Delinquency Percentage (for related Collection Period)	0.26%

Aggregate Principal Balance of Loans that were restructured during such Collection Period	3,398,797.41
Aggregate Principal Balance of Loans restructured in Collection Period as % of EOP Pool Balance		0.35%

Home Equity Loan Detail
Number of loans purchased or substituted pursuant to Section 2.02	-
Principal balance of loans purchased or substituted pursuant to Section 2.02	0.00
Number of loans purchased or substituted pursuant to Section 2.04	-
Principal balance of loans purchased or substituted pursuant to Section 2.04	0.00
Number of loans purchased or substituted pursuant to Section 3.01	-
Principal balance of loans purchased or substituted pursuant to Section 3.01	0.00
Substitution Adjustment Amounts	0.00

Number outstanding beginning of period	8,980
Number outstanding end of period	8,783
Principal balance of all REO as of the end of the Collection Period	45,399.51
Number of loans that went into REO during the Collection Period	-
Principal balance of loans that went into REO during the Collection Period	0.00


Overcollateralization
Beginning OC Amount	190,606,957.76
Realized Loss	46,425.92
OC Release Amount	0.00
Extra Principal Distribution Amount	46,425.92
Ending OC Amount	190,606,957.76

Target OC Amount	190,606,957.76
Interim OC Amount	190,560,531.84
Interim OC Deficiency	46,425.92

Monthly Excess Cashflow	2,361,442.77

Other
Stepdown	No
Trigger Event	No
Servicer Termination Event	No
Original Certificate Balance	937,240,000.00
Total EOP Certificate Principal Amount divided by Total Original Certificate Principal Amount		82.380334%
Total EOP Certificate Principal Amount divided by Total Original Certificate Principal Amount <15.00%			No

Interest Calculations
1 month LIBOR	5.32000%
Class A-1F Formula Rate (5.79%)	5.79000%
Class A-1F Pass-Through Rate	5.79000%
Class A-1V Formula Rate (1-mo. Libor plus 7 bps)	5.39000%
Class A-1V Pass-Through Rate	5.39000%
Class A-2F Formula Rate (5.32%)	5.32000%
Class A-2F Pass-Through Rate	5.32000%
Class A-2V Formula Rate (1-mo. Libor plus 11 bps)	5.43000%
Class A-2V Pass-Through Rate	5.43000%
Class A-3F Formula Rate (5.30%)	5.30000%
Class A-3F Pass-Through Rate	5.30000%
Class A-3V Formula Rate (1-mo. Libor plus 15 bps)	5.47000%
Class A-3 Pass-Through Rate	5.47000%
Class A-4 Formula Rate (1-mo. Libor plus 23 bps)	5.55000%
Class A-4 Pass-Through Rate	5.55000%
Class M-1 Formula Rate (1-mo. Libor plus 26 bps)	5.58000%
Class M-1 Pass-Through Rate	5.58000%
Class M-2 Formula Rate (1-mo. Libor plus 28 bps)	5.60000%
Class M-2 Pass-Through Rate	5.60000%

Net Rate Cap for Fixed Rate Certificates	7.78710%
Net Rate Cap for Floating Rate Certificates	7.78710%


Class A-1F Certficateholder's Statement

A. Information on Distributions
Original Class A-1F Certificate Balance	250,000,000.00
1. Total Distributions per $1,000	57.886180
2. Principal Distributions per $1,000	54.567756

	3. Interest Distribution per $1,000	3.318424

	B. Calculation of Class A-1F Interest
	1. Class A-1F Pass-Through Rate	5.79000%
	2. Days in Accrual Period	30

	3. Class A-1F Interest Due	829,605.92
	4. Class A-1F Interest Paid	829,605.92
	5. Class A-1F Interest Carry Forward Amount Due	0.00
	6. Class A-1F Interest Carry Forward Amount Paid	0.00
	7. Class A-1F Net Rate Carryover Amount Due	0.00
	8. Class A-1F Net Rate Carryover Amount Paid	0.00

	9. Class A-1F Unpaid Interest Carry Forward Amount, EOP	0.00
	10. Class A-1F Unpaid Net Rate Carryover Amount, EOP	0.00

	C. Calculation of Class A-1F Principal
	1. Class A-1F Certificate Principal Amount, BOP	171,939,051.30
	2. Class A-1F Principal Due	13,641,938.97
	3. Class A-1F Principal Paid	13,641,938.97
	4. Class A-1F Certificate Principal Amount, EOP	158,297,112.33

	5. Class A-1F Certificate Principal Amount as a % of Original Class A-1F Certificate Principal Amount, EOP

		63.318845%
	6. Class A-1F Certificate Principal Amount as a % of the Pool Balance, EOP	16.442893%
	7. Class A-1F Certificate principal distribution percentage	55.530875160%

	Class A-1V Certficateholder's Statement

	A. Information on Distributions
	Original Class A-1V Certificate Balance	200,200,000.00
	1. Total Distributions per $1,000	57.656928
	2. Principal Distributions per $1,000	54.567756
	3. Interest Distribution per $1,000	3.089172

	B. Calculation of Class A-1V Interest
	1. Class A-1V Pass-Through Rate	5.39000%
	2. Days in Accrual Period	30

	3. Class A-1V Interest Due	618,452.16
	4. Class A-1V Interest Paid	618,452.16
	5. Class A-1V Interest Carry Forward Amount Due	0.00
	6. Class A-1V Interest Carry Forward Amount Paid	0.00
	7. Class A-1V Net Rate Carryover Amount Due	0.00
	8. Class A-1V Net Rate Carryover Amount Paid	0.00

	9. Class A-1V Unpaid Interest Carry Forward Amount, EOP	0.00
	10. Class A-1V Unpaid Net Rate Carryover Amount, EOP	0.00

	C. Calculation of Class A-1V Principal
	1. Class A-1V Certificate Principal Amount, BOP	137,688,792.29
	2. Class A-1V Principal Due	10,924,464.73
	3. Class A-1V Principal Paid	10,924,464.73
	4. Class A-1V Certificate Principal Amount, EOP	126,764,327.56

	5. Class A-1V Certificate Principal Amount as a % of Original Class A-1V Certificate Principal Amount, EOP

		63.318845%
	6. Class A-1V Certificate Principal Amount as a % of the Pool Balance, EOP	13.167469%
	7. Class A-1V Certificate principal distribution percentage	44.469124840%

	Class A-2F Certficateholder's Statement

	A. Information on Distributions
	Original Class A-2F Certificate Balance	50,000,000.00
	1. Total Distributions per $1,000	4.433333
	2. Principal Distributions per $1,000	0.000000
	3. Interest Distribution per $1,000	4.433333

	B. Calculation of Class A-2F Interest
	1. Class A-2F Pass-Through Rate	5.32000%
	2. Days in Accrual Period	30

	3. Class A-2F Interest Due	221,666.67
	4. Class A-2F Interest Paid	221,666.67
	5. Class A-2F Interest Carry Forward Amount Due	0.00
	6. Class A-2F Interest Carry Forward Amount Paid	0.00
	7. Class A-2F Net Rate Carryover Amount Due	0.00
	8. Class A-2F Net Rate Carryover Amount Paid	0.00

	9. Class A-2F Unpaid Interest Carry Forward Amount, EOP	0.00
	10. Class A-2F Unpaid Net Rate Carryover Amount, EOP	0.00

	C. Calculation of Class A-2F Principal
	1. Class A-2F Certificate Principal Amount, BOP	50,000,000.00
	2. Class A-2F Principal Due	0.00
	3. Class A-2F Principal Paid	0.00
	4. Class A-2F Certificate Principal Amount, EOP	50,000,000.00

	5. Class A-2F Certificate Principal Amount as a % of Original Class A-2F Certificate Principal Amount, EOP

		100.000000%

	6. Class A-2F Certificate Principal Amount as a % of the Pool Balance, EOP	5.193681%
	7. Class A-2F Certificate principal distribution percentage	0.000000000%

	Class A-2V Certficateholder's Statement

	A. Information on Distributions
	Original Class A-2V Certificate Balance	68,200,000.00
	1. Total Distributions per $1,000	4.525000
	2. Principal Distributions per $1,000	0.000000
	3. Interest Distribution per $1,000	4.525000

	B. Calculation of Class A-2V Interest
	1. Class A-2V Pass-Through Rate	5.43000%
	2. Days in Accrual Period	30

	3. Class A-2V Interest Due	308,605.00
	4. Class A-2V Interest Paid	308,605.00
	5. Class A-2V Interest Carry Forward Amount Due	0.00
	6. Class A-2V Interest Carry Forward Amount Paid	0.00
	7. Class A-2V Net Rate Carryover Amount Due	0.00
	8. Class A-2V Net Rate Carryover Amount Paid	0.00

	9. Class A-2V Unpaid Interest Carry Forward Amount, EOP	0.00
	10. Class A-2V Unpaid Net Rate Carryover Amount, EOP	0.00

	C. Calculation of Class A-2V Principal
	1. Class A-2V Certificate Principal Amount, BOP	68,200,000.00
	2. Class A-2V Principal Due	0.00
	3. Class A-2V Principal Paid	0.00
	4. Class A-2V Certificate Principal Amount, EOP	68,200,000.00

	5. Class A-2V Certificate Principal Amount as a % of Original Class A-2V Certificate Principal Amount, EOP

		100.000000%
	6. Class A-2V Certificate Principal Amount as a % of the Pool Balance, EOP	7.084180%
	7. Class A-2V Certificate principal distribution percentage	0.000000000%

	Class A-3F Certficateholder's Statement

	A. Information on Distributions
	Original Class A-3F Certificate Balance	79,900,000.00
	1. Total Distributions per $1,000	4.416667
	2. Principal Distributions per $1,000	0.000000
	3. Interest Distribution per $1,000	4.416667

	B. Calculation of Class A-3F Interest
	1. Class A-3F Pass-Through Rate	5.30000%

	2. Days in Accrual Period	30

	3. Class A-3F Interest Due	352,891.67
	4. Class A-3F Interest Paid	352,891.67
	5. Class A-3F Interest Carry Forward Amount Due	0.00
	6. Class A-3F Interest Carry Forward Amount Paid	0.00
	7. Class A-3F Net Rate Carryover Amount Due	0.00
	8. Class A-3F Net Rate Carryover Amount Paid	0.00

	9. Class A-3F Unpaid Interest Carry Forward Amount, EOP	0.00
	10. Class A-3F Unpaid Net Rate Carryover Amount, EOP	0.00

	C. Calculation of Class A-3F Principal
	1. Class A-3F Certificate Principal Amount, BOP	79,900,000.00
	2. Class A-3F Principal Due	0.00
	3. Class A-3F Principal Paid	0.00
	4. Class A-3F Certificate Principal Amount, EOP	79,900,000.00

	5. Class A-3F Certificate Principal Amount as a % of Original Class A-3F Certificate Principal Amount, EOP

		100.000000%
	6. Class A-3F Certificate Principal Amount as a % of the Pool Balance, EOP	8.299502%
	7. Class A-3F Certificate principal distribution percentage	0.000000000%

	Class A-3V Certficateholder's Statement

	A. Information on Distributions
	Original Class A-3V Certificate Balance	61,500,000.00
	1. Total Distributions per $1,000	4.558333
	2. Principal Distributions per $1,000	0.000000
	3. Interest Distribution per $1,000	4.558333

	B. Calculation of Class A-3V Interest
	1. Class A-3V Pass-Through Rate	5.47000%
	2. Days in Accrual Period	30

	3. Class A-3V Interest Due	280,337.50
	4. Class A-3V Interest Paid	280,337.50
	5. Class A-3V Interest Carry Forward Amount Due	0.00
	6. Class A-3V Interest Carry Forward Amount Paid	0.00
	7. Class A-3V Net Rate Carryover Amount Due	0.00
	8. Class A-3V Net Rate Carryover Amount Paid	0.00

	9. Class A-3V Unpaid Interest Carry Forward Amount, EOP	0.00
	10. Class A-3V Unpaid Net Rate Carryover Amount, EOP	0.00

	C. Calculation of Class A-3V Principal

	1. Class A-3V Certificate Principal Amount, BOP	61,500,000.00
	2. Class A-3V Principal Due	0.00
	3. Class A-3V Principal Paid	0.00
	4. Class A-3V Certificate Principal Amount, EOP	61,500,000.00

	5. Class A-3V Certificate Principal Amount as a % of Original Class A-3V Certificate Principal Amount, EOP

		100.000000%
	6. Class A-3V Certificate Principal Amount as a % of the Pool Balance, EOP	6.388227%
	7. Class A-3V Certificate principal distribution percentage	0.000000000%

	Class A-4 Certficateholder's Statement

	A. Information on Distributions
	Original Class A-4 Certificate Balance	132,140,000.00
	1. Total Distributions per $1,000	4.625000
	2. Principal Distributions per $1,000	0.000000
	3. Interest Distribution per $1,000	4.625000

	B. Calculation of Class A-4 Interest
	1. Class A-4 Pass-Through Rate	5.55000%
	2. Days in Accrual Period	30

	3. Class A-4 Interest Due	611,147.50
	4. Class A-4 Interest Paid	611,147.50
	5. Class A-4 Interest Carry Forward Amount Due	0.00
	6. Class A-4 Interest Carry Forward Amount Paid	0.00
	7. Class A-4 Net Rate Carryover Amount Due	0.00
	8. Class A-4 Net Rate Carryover Amount Paid	0.00

	9. Class A-4 Unpaid Interest Carry Forward Amount, EOP	0.00
	10. Class A-4 Unpaid Net Rate Carryover Amount, EOP	0.00

	C. Calculation of Class A-4 Principal
	1. Class A-4 Certificate Principal Amount, BOP	132,140,000.00
	2. Class A-4 Principal Due	0.00
	3. Class A-4 Principal Paid	0.00
	4. Class A-4 Certificate Principal Amount, EOP	132,140,000.00

	5. Class A-4 Certificate Principal Amount as a % of Original Class A-4 Certificate Principal Amount, EOP

		100.000000%
	6. Class A-4 Certificate Principal Amount as a % of the Pool Balance, EOP	13.725859%
	7. Class A-4 Certificate principal distribution percentage	0.000000000%

	Class M-1 Certficateholder's Statement

	A. Information on Distributions
	Original Class M-1 Certificate Balance	51,880,000.00
	1. Total Distributions per $1,000	4.650000
	2. Principal Distributions per $1,000	0.000000
	3. Interest Distribution per $1,000	4.650000

	B. Calculation of Class M-1 Interest
	1. Class M-1 Pass-Through Rate	5.58000%
	2. Days in Accrual Period	30

	3. Class M-1 Interest Due	241,242.00
	4. Class M-1 Interest Paid	241,242.00
	5. Class M-1 Interest Carry Forward Amount Due	0.00
	6. Class M-1 Interest Carry Forward Amount Paid	0.00
	7. Class M-1 Net Rate Carryover Amount Due	0.00
	8. Class M-1 Net Rate Carryover Amount Paid	0.00

	9. Class M-1 Unpaid Interest Carry Forward Amount, EOP	0.00
	10. Class M-1 Unpaid Net Rate Carryover Amount, EOP	0.00

	C. Calculation of Class M-1 Principal
	1. Class M-1 Certificate Principal Amount, BOP	51,880,000.00
	2. Class M-1 Principal Due	0.00
	3. Class M-1 Principal Paid	0.00
	4. Class M-1 Certificate Applied Realized Loss Amount	0.00
	5. Class M-1 Certificate Principal Amount, EOP	51,880,000.00


	6. Class M-1 Certificate Principal Amount as a % of Original Class M-1 Certificate Principal Amount, EOP
		100.000000%
	7. Class M-1 Certificate Principal Amount as a % of the Pool Balance, EOP	5.388963%
	8. Class M-1 Certificate principal distribution percentage	0.000000000%
	9. Class M-1 Certificate Reimbursements to Unpaid Realized Loss Amount	0.00
	10. Class M-1 Certificate Unpaid Realized Loss Amount, EOP	0.00

	Class M-2 Certficateholder's Statement

	A. Information on Distributions
	Original Class M-2 Certificate Balance	43,420,000.00
	1. Total Distributions per $1,000	4.666667
	2. Principal Distributions per $1,000	0.000000
	3. Interest Distribution per $1,000	4.666667

	B. Calculation of Class M-2 Interest
	1. Class M-2 Pass-Through Rate	5.60000%

	2. Days in Accrual Period	30

	3. Class M-2 Interest Due	202,626.67
	4. Class M-2 Interest Paid	202,626.67
	5. Class M-2 Interest Carry Forward Amount Due	0.00
	6. Class M-2 Interest Carry Forward Amount Paid	0.00
	7. Class M-2 Net Rate Carryover Amount Due	0.00
	8. Class M-2 Net Rate Carryover Amount Paid	0.00

	9. Class M-2 Unpaid Interest Carry Forward Amount, EOP	0.00
	10. Class M-2 Unpaid Net Rate Carryover Amount, EOP	0.00

	C. Calculation of Class M-2 Principal
	1. Class M-2 Certificate Principal Amount, BOP	43,420,000.00
	2. Class M-2 Principal Due	0.00
	3. Class M-2 Principal Paid	0.00
	4. Class M-2 Certificate Applied Realized Loss Amount	0.00
	5. Class M-2 Certificate Principal Amount, EOP	43,420,000.00


	6. Class M-2 Certificate Principal Amount as a % of Original Class M-2 Certificate Principal Amount, EOP
		100.000000%
	7. Class M-2 Certificate Principal Amount as a % of the Pool Balance, EOP	4.510192%
	8. Class M-2 Certificate principal distribution percentage	0.000000000%
	9. Class M-2 Certificate Reimbursements to Unpaid Realized Loss Amount	0.00
	10. Class M-2 Certificate Unpaid Realized Loss Amount, EOP	0.00

	HSBC FINANCE CORPORATION,
	HSBC Home Equity Loan Trust (USA) 2006-4

	The undersigned, a duly authorized representative of HSBC Finance Corporation,
	as Servicer (the "Servicer"), pursuant to a Pooling and Servicing Agreement
	dated as of December 14, 2006 (the "Pooling and Servicing Agreement"), by and among
	HSBC Home Equity Loan Corporation II, as Depositor, the Servicer,
	U.S. Bank National Association, as Trustee, HSBC Bank USA, National
	Association, as Administrator, and HSBC Home Equity Loan Trust (USA) 2006-4, the
	Trust, does hereby certify with respect to the information set forth below as follows:

	1. Capitalized terms used in this Servicing Certificate shall have the respective
	meanings set forth in the Pooling and Servicing Agreement.

	2. HSBC Finance Corporation is, as of the date hereof, the
	Servicer under the Pooling and Servicing Agreement.

	3. The undersigned is a Servicing Officer.

	4. This Certificate relates to the Distribution Date occurring on June 20, 2007.

	5. As of the date hereof, to the best knowledge of the undersigned, the
	Servicer has performed in all material respects all its obligations under the
	Pooling and Servicing Agreement through the Collection Period preceding such
	Distribution Date and that, except as may be noted on the Servicing Certificate
	related to a Trigger Event, no Servicer Termination Event has occurred
	since the prior Determination Date.

	IN WITNESS WHEREOF, the undersigned has duly executed and delivered this Certificate
	the 14th day of June, 2007

	HSBC FINANCE CORPORATION
	as Servicer

	By: /s/ Joyce A. Bevacqua
	Title: Servicing Officer

HSBC Home Equity Loan Trust (USA) 2006-4 10-D