Tag Archives: washington mutual

Advice For The Struggling Mortgage Holder

How about this advice — don’t buy more home than you can afford. That if you go the route of a risky mortgage, you’re likely to run into serious trouble and you might lose your home. Report: Chase Bank kicked … Continue reading

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The Washington Mutual Empire Was Built On Shaky Loans

Great article from the New York Times today. Washington Mutual had dreams of becoming an empire, something a lot grander than just a bank. How would they do this? By saying Yes!, just like Jim Carey’s new movie. WaMu didn’t … Continue reading

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Regulating America’s Mortgages

NEW YORK (Associated Press) – A regulator whose agency would disappear under a Bush administration plan to revamp financial oversight says his agency should instead be given expanded power over the U.S. home loan market. John Reich, director of the … Continue reading

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CA Congresswoman Defaults On House?

From the San Jose Mercury News: Richardson, a Southern California Democrat, bought a two-story home in a leafy, upper-middle class neighborhood of Sacramento in January 2007, just months after winning a seat in the state Assembly. Property records on file … Continue reading

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Refinance: What Good Are All These Rescue Packages?

The House passed two such bills. The Senate is likely to pass one of its own. What’s the use of them? There’s a ton of free market criticism of Barney Frank’s bill. The WSJ blasted in this week. All these … Continue reading

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More Help For Jumbo Home Loans

The U.S. government has intervened massively again in the mortgage market. A couple of semi-private corporations are injecting billions into the credit world. Anything to right the mortgage ship. The Boston Globe reports: The nation’s two largest mortgage investors yesterday … Continue reading

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British Banks Keep A Stiff Upper Lip Through Mortgage Mess

David Wighton of the Times of London puts his finger on some key cultural and business differences between American and British banks. Americans are more open to admitting their needs, asking for cash, and cutting their dividends. When a British … Continue reading

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Washington Mutual Getting Out Of Mortgage Business

Washington Mutual has lost much of its value due to its bad mortgage lending decisions. Here’s a report: Seattle-headquartered Washington Mutual, which recently entered into definitive agreements to raise an aggregate $7 billion through direct sale of equity securities to … Continue reading

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I’ve Got Downey, First Federal, Washington Mutual, Fremont On My Death Watch

You’ll show up one day and there’ll be a notice that this bank has been taken over the FTIC and if you have money there, it’ll take a couple of days to get it. Or Bank of America buys them … Continue reading

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I Hope My Bank Doesn’t Have All Its ‘Capital’ In Junk Loans

Downey Savings, and then not far behind them, First Federal and Washington Mutual are going to have all the "capital" in junk loans.  No one should have any faith in the banking system and should move their money out of … Continue reading

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