HSBC Mortgage Services (correspondent div.)

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2007-03-22

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This is a retroactive add (today is May 17th). HSBC has a notice on the closure, some of which we excerpt below:

We are introducing a number of changes to our mortgage services business and wish to advise you that HSBC has made the decision to discontinue correspondent channel acquisitions through HSBC Mortgage Services.

HSBC Mortgage Corporation, the prime mortgage business and Decision One, the wholesale sub-prime business owned by HSBC USA, N.A., are not impacted by this decision.

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Important: This company is on our list of lending operations that have "imploded" (see also ailing lenders). However, please note that "imploded" is a somewhat subjective and does not necessarily mean operations are ceased permanently: it can mean bankruptcy filing, temporary but open-ended halting of major operations, or "firesale" acquisition. All information here is provisional, and may contain inaccuracies (especially newer information). If you are planning on doing business with this company or any other one listed on this site, you should inquire with them directly on whether they can still meet your needs. Many are still operating in some capacity.