Washington Mutual To Cut 3,150 Jobs
If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!
This is a true case of “if you live by the sword you die by the sword.” Washington Mutual, or WaMu, grew dramatically on their mortgage business.
There are 4 branches now within 10 miles of my house that have been built over the past couple of years when there were none before. Now with the slowing of the mortgage industry they are caught in a huge over expansion and are closing many of their locations.
Washington Mutual Inc., citing growing mortgage losses, said Monday that it would slash its dividend by almost three-quarters, cut 3,150 jobs and raise $2.5 billion in new capital.
The savings and loan, one of the largest U.S. home mortgage lenders, said a sharp downturn in demand for home loans was forcing it to eliminate 2,600 mortgage and 550 corporate support jobs, or 11% of its total staff, and close 190 of 336 mortgage offices. via Los Angeles Times.
It probably is a really good time to buy real estate - monthly payments are about equal to market rents ...
The part about the inventory is right on but in my area they are mostly low end and beat up ...
I worked for this man, he is a great con man and has done this in more than States then ...
You're right. If you come from Central Jersey (as the Boss and I do), you go to Florida at some ...
Maybe it was kryptonite...
ECONOMIC REPORT
'Prolonged' recession, higher joblessness seen likely
NABE survey indicates most economists now believe U.S. recession's started
By Mike ...
I couldn't agree more.
The newspaper has always "stuck" it to the real estate agent with rates that were much higher ...
By the way, homeowners trying to get short sale approval should be aware that lenders are comparing the initial loan ...
Ouch! Thankfully I haven't come across anything like that yet. We normally don't have situations like that in ...
well, the guy was here illegally.
serves him right. 
BY USING FIRST CLAIM INSURANCE ADJUSTERS YOU WILL HAVE THE ABILITY TO LOOK AT YOUR INSURANCE SETTLEMENT AND REALIZE FIRST ...
