FAQ  |  Search  |  Memberlist  |  Usergroups   |  Register  |  Profile  |  Log in to check your private messages  |  Log in 

 Discussion on HSBC Mortgage Corp. - Wholesale View next topic
View previous topic



Post new topicReply to topic
Author Message
autopost
Schumpeter Reincarnate


Joined: 24 May 2008
Posts: 219299

Re: Discussion on HSBC Mortgage Corp. - Wholesale
PostPosted: Tue Nov 18, 2008 8:36 pm Reply with quoteBack to top

http://ml-implode.com/imploded.....11-18.html
View user's profileSend private message
cooper
Dyn-o-mite!


Joined: 11 Mar 2007
Posts: 491
Location: River City

Re: Discussion on HSBC Mortgage Corp. - Wholesale
PostPosted: Wed Nov 19, 2008 4:40 pm Reply with quoteBack to top

Good Ridance. Since they purchsed HFC and Bene they have proceeded to hammer the american consumer in every way possible from high interest real estate loans to credit cards and car loans. Another predator slipping away into the night.

_________________
never forget
View user's profileSend private messageSend e-mail
Dinochick
Dyn-o-mite!


Joined: 02 Nov 2007
Posts: 330

Re: Discussion on HSBC Mortgage Corp. - Wholesale
PostPosted: Thu Nov 20, 2008 2:49 am Reply with quoteBack to top

And let us not forget the infamous loans these type of companies are for, high interest hard money personal/unsecured equity loans..
View user's profileSend private message
AE Jack
Dud?


Joined: 02 Nov 2007
Posts: 15
Location: Orange County

What took so long???
PostPosted: Wed Nov 26, 2008 9:12 pm Reply with quoteBack to top

HSBC was a train wreck looking for a place to crash; they were in trouble over a year ago, and their Sub Prime unit, Solstice, was doing junk loans until just a few months ago! I worked for them (AE) for a few months and their submission system was the most cumbersome system I had ever seen. Their "A" paper pricing was lackluster and the Pres. of Mortgage Banking told me, "Well, sadly, we aren't here to make AE's money!". Well, dude, maybe I will see you in the unemployment line!
Jack Martin
View user's profileSend private messageSend e-mail
RTC
Dud?


Joined: 20 Nov 2008
Posts: 10

Re: Discussion on HSBC Mortgage Corp. - Wholesale
PostPosted: Fri Dec 05, 2008 3:35 am Reply with quoteBack to top

It doesn't sound like any of the posters actually did business with HSBC Mortgage Corp or are familiar with who they were. HSBC Mortgage Corp was a company acquired by HSBC just like HFC (household) was. They were completely separate companies, under different legal entities, and different chains of command.

HSBC Mortgage Corp (I'll leave the HFC talk to a more appropriate thread) was out of NY and ONLY did A paper. They were plain Jane strictly vanilla. They were actually really strict and had an overwhelming focus on compliance. They also had ridiculously long term times that made them difficult to work with.

Frankly, with HSBC (the corporate behemoth) being so conservative I'm amazed they kept wholesale open for so long. But, this is yet another blow for brokers as another mega bank pulls out of wholesale to focus on retail.
View user's profileSend private message
Allie
Dud?


Joined: 30 May 2010
Posts: 2
Location: USA

HSBC MORTGAGE CORP- CEO SALARY
PostPosted: Sun May 30, 2010 3:58 pm Reply with quoteBack to top

HSBC cut jobs & denied modifications, but in 2009, the CEO earned $2.6 million.... & Company profits increased to $5.8 BILLION! Explain THAT!
View user's profileSend private message
Display posts from previous:      
Post new topicReply to topic


 Jump to:   


Merge topics 

View next topic
View previous topic
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum




Powered by phpBB 2.0.22-2 (Debian) © 2001, 2002 phpBB Group :: FI Theme :: All times are GMT