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HSBC Adding Hundreds to Mortgage Staff

New SC location will accommodate hundreds more

June 30, 2005

By COCO SALAZAR


HSBC Mortgage Services expects to double its headquarters staff within the next five years, as well as increase call center and wholesale staff, as a result of relocating the headquarters.

The unit of HSBC - North America announced it will move from Charlotte, N.C. to base itself in Lancaster County, S.C.

Construction of the new 182,000-square-foot facility will begin this summer, and the company expects to move in early summer 2006. The site will provide nearly 60 percent more space to accommodate anticipated staff growth -- from the current 450 to 900 headquarters employees by 2011.

"The construction of our new headquarters will support our ongoing expansion plans," said J.C. Faulkner, an HSBC group executive, in a written statement.

Within the corporate staff of 450, about 60 to 100 currently consist of underwriting and collections employees, while the rest cover back office functions such as management, marketing, accounting and human resources, HSBC spokesman Rahsaan Johnson told MortgageDaily.com.

While Johnson could not confirm the number of future additions, he said employment will also be increasing at Decision One Mortgage LLC and HSBC Mortgage Services Inc., the subsidiaries of HSBC Mortgage Services, which employs more than 3,000 nationwide.

Decision One Mortgage, which claims it is the eight largest nonconforming, wholesale lender to more than 10,000 brokers nationwide, has 22 branches, according to Johnson. The branch located in HSBC current headquarters will remain there with 120 employees, the announcement said.

HSBC Mortgage Services Inc. reportedly acquires and services conforming and nonconforming loans, buying from 200 correspondent lenders across the country. Johnson said the unit has a call center in Florida.


Coco Salazar is an assistant editor and staff writer for MortgageDaily.com.

email: [email protected]


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