HSBC or Chase for Mortgage

Chase won't sell your mortgage to some shitty third world (North Carolina) mortgage "bank".

Ask how long the process takes? Length of time increases aggravation. Ultimately, go with the one that provides the best customer service because you'll be having lots of interactions with them before the loan closes.

Make sure neither are just "branch" loan officers. Also, ask what their experience is with financing coops. Make sure the coop is approved at the bank. And ultimately, who are you most comfortable with? You will be talking to this person for a couple of months so it helps if you like dealing with him/her. sunny.hong@bankofamerica.com

When I first approached Chase for a mortgage, I inquired at my local branch office. They gave me an 800 number to call. The guy I got on the line was based in Phoenix and had never heard of co-ops -- I had to explain the difference to him. During subsequent conversations, he kept referring to my apartment as a "condo". When I would correct him, he would say "whatever".

That hardly inspired confidence in my choice of mortgage banker.

I eventually went with a mortgage broker who set me up with a bank that actually understands New York City co-ops.

I had a horrid experience with HSBC, the mortgage banker was somewhere upstate and ended each e-mail (whenever she'd be bothered to respond at all) with "Have a blessed day!".
The process took much longer than originally promised and we ultimately went with another lender (Citi) who were great.
I think it really depends on the mortgage banker at the end of the day-if they are competent, the process will be smooth no matter the institution.

Good luck!

Ananaj

make sure your banker understands NYC. The rules & structure are differnet. It took me 3 months to REFI with Chase bc I ended up w some idiot in Ohio.

"It took me 3 months to REFI with Chase bc I ended up w some idiot in Ohio."

Well, contrary to what most New Yorkers think, Chase is now an OHIO-based bank.

"Chase won't sell your mortgage to some shitty third world (North Carolina) mortgage "bank"."
Really? They sold both my dad's and brother's mortgage to some distant bank some years ago.

I left Chase for HSBC around 5 years ago for business banking. Chase is conservative and an all around pain in the arse on just about everything.
My personal opinion is if there is more to charge or point out something wrong in your mortgage down the road, it will be Chase before HSBC.

Dont go to either, go to a local community bank here in the city.