And another one drops off the list!
Here is a statement released from HSBC...
"We wish to advise you that unprecedented market conditions have made it necessary for HSBC Mortgage Corporation (USA) to cease Wholesale/Correspondent origination operations effective immediately. HSBC Mortgage Corporation (USA) will continue to process any loans that are registered as of November 18, 2008. Floating loans registered as of November 18th, 2008 must be locked by December 2, 2008. All loans will have until January 20, 2009 to fund. There will be no fundings after January 21, 2009."
Here is a link to an article from the Wall Street Journal:
http://online.wsj.com/article/SB122696149031335075.html?mod=googlenews_wsj
It looks like more people are going to be out of work.
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