Monday, December 10, 2007 - Page updated at 02:27 PM
Print
Digg
NewsvineWaMu closing home-loan offices, cutting staff
Washington Mutual, the nation's largest savings and loan, is closing offices and laying off workers in response to problems in the mortgage and credit markets.
The Seattle company says it's closing 190 of 336 home-loan centers and sales offices. It's closing WaMu Capital, its broker dealer business.
It's cutting 2,600 home-loan positions — about 22 percent of those workers — plus 550 corporate and other support positions.
WaMu is discontinuing all subprime mortgages.
The company says it expects to take a fourth quarter after-tax charge of $1.6 billion, resulting in a net loss for the quarter.
Copyright © 2007 The Seattle Times Company
Print
UPDATE - 09:46 AM
Exxon Mobil wins ruling in Alaska oil spill case
UPDATE - 09:32 AM
Bank stocks push indexes higher; oil prices dip
UPDATE - 08:04 AM
Ford CEO Mulally gets $56.5M in stock award
UPDATE - 07:54 AM
Underwater mortgages rise as home prices fall
NEW - 09:43 AM
Warner Bros. to offer movie rentals on Facebook
general classifieds
Garage & estate salesFurniture & home furnishings
Electronics
just listed
Solar Panel Super Sale
***Stunning Akc POMERANIAN baby girl W/ FUL...
12 U Select Baseball Coach Wanted
More listings
POST A FREE LISTING
- Lakewood cop accused of embezzling $150K meant for slain officers' families
- 3 big health insurers stockpile $2.4 billion as rates keep rising
- Agency set to investigate handling of 911 call about Josh Powell
- Quick decisions: How Washington hired its new football staff
- Historic day for gay marriage as another fight looms
- Justin Wilcox's versatile defensive style is the right fit for Huskies | Jerry Brewer
- It's Terrence Time: Enigmatic Ross leads Huskies
- Social worker recounts minutes before Powell fire
- $25B settlement reached over foreclosure abuses
- Club promoter convicted in brutal 2010 murder of Des Moines prostitute
- State Medicaid program to stop paying for unneeded ER visits
- 3 big health insurers stockpile $2.4 billion as rates keep rising
- One man's audacious pursuit of sailing history
- Darren Berg gets 18-year sentence for Ponzi scheme
- $25B settlement reached over foreclosure abuses
- A wandering gene's destructive path | Book review
- 'Gauguin and Polynesia': dazzling mix-and-match | Art review
- UW opening incubator facility for startups
- Controversial principal at Lowell Elementary takes job in Tacoma
- Lakewood cop accused of embezzling $150K meant for slain officers' families