Bridget's Blog

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Another lender no longer offering loans

HSBC is closing Decision One.  It is going to cost them $945 million to stop doing business.  Although I don't think they hold the mortgages for a long period of time,  any mortgages that are left in their pipeline will have to be sold at a discount to other lenders. 

 I have worked with the folks at Decision One for many years. I have always been impressed by the caliber of their employees.  My prayers are with you and your families that bigger and better things will come!

Read about it here.

 

 

Warm Regards,

Bridget McGee  Maryland Mortgage Mama  NMLS# 196068  SWBC Mortgage.   410-960-2061 EHO   bridget.mcgee@swbc.com or www.marylandmortgagemama.com

 

If you are considering purchasing a home in Maryland and want to be sure you are mortgage ready, my brother Tony and I will be happy to help! We help to make the mortgage process a pleasure! 

If you already own your home, we are happy to provide a no-cost mortgage review to help you to determine if refinancing may be in your best interest.  Please contact me at 410-960-2061.

Comment balloon 5 commentsBridget "Mortgage Mama" McGee • September 21 2007 04:32PM

Comments

I agree with you Bridget  -   watch for more lenders to yank the plug this week...........
Posted by Lewis Poretz, Business Development Manager (Apex Home Loans) about 12 years ago
I used to work for HSBC and later placed a lot of loans with D1.   Not surprised, but it's too bad. 
Posted by Seth Callen (Farmers Insurance) about 12 years ago
Posted by Lewis Poretz, Business Development Manager (Apex Home Loans) about 12 years ago

  

It has been a wonderful 24 years. THANK YOU!

As you are aware, the liquidity crisis in the mortgage lending industry has adversely impacted nearly every major mortgage originator, mortgage investor, and warehouse lender.  SCME is no exception.  We have spent a great deal of time analyzing the market and SCME’s role in the future of mortgage banking.  There is every indication that the liquidity crisis will continue for the foreseeable future, causing significant challenges to our organization. 

 

We would like you to know that SCME has valued our relationships over the past 24 years, resulting in strong partnerships and lasting friendships.  Thus, our decision has not been made lightly, nor has it come easily.  Effective the close of business today, September 28th, 2007, SCME will no longer accept wholesale business. Any loan that is not funded as of today will be returned to our customers.

 

 This has been a very difficult business decision to make. We understand the impact this decision will be for our valued customers as well as our loyal and appreciated employees.  Over the past 24 years, we have met and have had the honor of working with some of the best people in this industry.  We pray that each of you will find your way through these tumultuous times.  Thank you for your business and for your understanding. 

 

Good luck and God Bless . . . .

  

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Posted by Lewis Poretz, Business Development Manager (Apex Home Loans) about 12 years ago

Seth, I guess you're pretty happy to be in insurance now, aren't you?

Lewis, Thanks for the info.  Unfortunately, they won't be the last!

Posted by Bridget "Mortgage Mama" McGee, Maryland Mortgage Mama NMLS#196068 (SWBC Mortgage 410-960-2061) about 12 years ago

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