Ranieri’s Sock Mill Bucks Mortgage Firms Moving Offshore

Brandy Hussey lost her job at a sock factory a decade ago when North Carolina’s textile companies left for China and Mexico in search of cheaper labor. Today, one of those abandoned mills houses a financial firm where Hussey is managing multimillion-dollar mortgages -- and bucking a new offshoring trend.

Her employer, Situs Holdings LLC, processes commercial property loans out of -- yes -- an old sock factory in Robbins, North Carolina. While the town of 1,100 about 80 miles from Charlotte might seem a world away from Situs customers on Wall Street, it’s not India or the Philippines, where many servicers are expanding operations.