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Real Estate & Property Law
: Housing WireHSBC Exits Correspondent, Wholesale Lending
By PAUL JACKSON
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HSBC Holdings (HBC: 47.60 0.00%) confirmed Wednesday that it will cut roughly 325 U.S. jobs as part of an exit from wholesale/correspondent mortgage lending; the London-based bank shut down lending activity via third-party brokers on Tuesday afternoon.
Among the cuts will be 100 account executives that worked with brokers nationwide, or all HSBC account execs; another [...]Full post as published by Housing Wire on November 20, 2008 (boomark / email).
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