Rumors have been swirling over at thetruthaboutmortgage.com and ml-implode.com that voices within Decision One have confirmed that HSBC is planning on shuttering the company tomorrow. From thetruthaboutmortgage.com:
I?ve received multiple e-mails today from sources close to Decision One who say the lender will be shutting its doors tomorrow.
The subprime lending unit of HSBC has been struggling like many other wholesale mortgage lenders in recent months, and it looks like they may finally be calling it quits.
I reported Decision One layoffs just over a week ago after a source mentioned that the lender had cut a few hundred employees and closed its Phoenix sales center.
HSBC acquired D1 (as Decision One is known) in 2003. The subprime lender was known for getting "tricky loans"
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