How about a few more WaMu updates. The (bad) news seems to keep coming for the Seattle-based bank. First up, a look back at how WaMu got itself into this mess, courtesy of the Seattle Times: Where WaMu went wrong. This article has its own thread in the forums, so be sure to check that…
Tag: WaMu
WaMu: Goodbye, Home Loans
It’s a good news / bad news day for local lending juggernaut Washington Mutual. The good news: They got a big cash infusion from a private investment group, and may not go the way of New Century. The bad news: They’re completely pulling out of wholesale lending, closing their home loan centers, and eliminating 3,000…
Seattle Clearly At Risk in Credit Retraction
Speaking of the economy, here’s a headline I never expected to see in The Seattle Times, let alone above the fold on the front page of the Sunday paper: I guess this is a surprising discovery for some people—something that is considered big news. Here are some choice excerpts from the article: “If things get…
WaMu: Ouch.
As the mortgage market experiences continuing turmoil, our local giant in the industry is not spared: The nationwide housing slump and collapsed mortgage markets have taken yet another toll on Washington Mutual — specifically, on its employees and shareholders. The Seattle-based thrift, one of the nation’s largest home lenders, said Monday it will: Cut 3,150…
WaMu: Slump Not Getting Better Soon
Golly, this housing slump sure isn’t much fun (for never-ending appreciation-believers and real estate agents), is it? But hey, at least it’s almost over, right? Wait, what’s that you say? It’s not going to get better soon? Pfft. You’re just some doom-and-gloom blogger, why should we listen to you? Except, that outlook isn’t coming from…