HSBC To Sell or Close Decision One?
We’re hearing rumors about HSBC’s Decision One. Some say Decision One Mortgage, HSBC’s U.S.-based subprime lending arm, is taking even more steps to stop the bleeding in its mortgage operations. Sources suggested to Housing Wire today that the company has decided to close 13 of its 15 offices nationwide, leaving only its Phoenix and Charlotte, N.C. offices behind. Others say talks include selling HSBC’s HFC and Beneficial brand names, or perhaps the entire consumer loan division known as HSBC Finance. Calls to company officials and spokespersons went unreturned.
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