Reply by Deborah Lewellen on 3/2/09 9:59am
Msg #279197
I ran into a former employee there a few weeks back at the grocery store. She said she was glad she got out of there when she did, she went onto a better recession proof job, closer to home. She said it had been really slow all last year, and according to how many closings I'd done for them, it had dropped dramatically from 6-7 a month to 1-2 a month or less. Anyhow, she told me that HSBC was going to get out of the mortgage lending all together, I'm like, oh my. Yet from another employee who works there, she said they were going to conventional mortgages now and yet their rates never ever go down. How can you compete, when you are charging 11%-12% interest rates? I've seen plenty of mortgages with folks having $30-$50K in credit card debt, consolidating into a FHA at 5%-6% and with credit scores 550-650. Now tell me all this TV news crap that says the lenders aren't lending? Where are they getting their information? We've been busier than ever.
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