HSBC Mortgage Corporation USA Names David Gates Head of National Mortg

    Business Editors/Real Estate Writers

    DEPEW, N.Y.--(BUSINESS WIRE)--April 20, 2005--HSBC Mortgage Corporation (USA) has named David S. Gates Senior Vice President, National Mortgage Sales. In this role, he will be responsible for all sales channels: retail, third party, telesales and timeshare. He will report to Randy Raup, president of the Mortgage Corp.
    "David's experience in the mortgage industry, his proven track record with HSBC Mortgage Corp and his strong customer focus represent tremendous assets to our company," said Raup. "His strong leadership abilities, coupled with our great sales organization, provide a solid foundation to profitably grow HSBC Mortgage Corporation."
    A twenty-year veteran of the mortgage business, Gates has served as HSBC's northeast wholesale sales divisional manager responsible for all third party origination in the Northeast United States since 1997. He joined HSBC when the company acquired First Federal Savings and Loan of Rochester, where he served as northeast regional sales manager.
    A member of the New York Association of Mortgage Brokers, Gates received his bachelor of science degree from Rochester Institute of Technology. He resides in East Amherst with his wife Kathleen and their two children.

    About HSBC Mortgage Corporation (USA)

    HSBC Mortgage Corporation (USA), a wholly owned subsidiary of HSBC Bank USA N.A., is a member of the HSBC Group plc, which is one of the largest banking and financial service organizations in the world. It has more than 5,000 brokers and correspondents funding loans in the continental U.S. The organization is the 20th largest originator in the nation, servicing over 450,000 first and second mortgages worth approximately $70 billion. It also conducts brick and mortar retail lending in 8 states and telephone sales in 48 states and the District of Columbia. HSBC Mortgage Corporation (USA), an equal housing lender, is a Fannie Mae/Freddie Mac fixed rate and hybrid ARM lender that also offers a wide range of Alt A products. It is also one of six national members of the Freddie Mac "Hall of Fame" and has received numerous awards from Freddie Mac and Fannie Mae for excellence in servicing and investor reporting.

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CONTACT: HSBC Media inquiries: Kathleen Rizzo Young, 716-841-5003 kathleen.rizzo.young@us.hsbc.com

KEYWORD: NEW YORK INDUSTRY KEYWORD: REAL ESTATE BUILDING/CONSTRUCTION BANKING MANAGEMENT CHANGES SOURCE: HSBC

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