According to sources within the industry Decision 1 Mortgage, a division of HSBC Finance, will no longer be accepting sub-prime mortgage loan applications through mortgage brokers in the U.S. If you have applied for a mortgage loan through Decision 1 Mortgage, your loan must close on or before September 28th, 2007.

As a result of Decision 1 Mortgage closing their doors in the U.S. another 750 employees in the mortgage industry will be losing their jobs.

HSBC has stated that they seeking greater control of their lending procedures and policies and therefore have decided on lending directly to consumers. This tactic seems to be growing in popularity for sub-prime mortgage lenders facing the meltdown of the mortgage market.

Last year, HSBC ranked first among U.S. subprime lenders in terms of loan volumes, according to trade publication Inside Mortgage Finance. But early this year, it became one of the first major financial institutions to acknowledge problems in the U.S. subprime-lending business.

Stay tuned for more mortgage problems surely to come in the future.