More WaMu News, Fed Meeting, Updates on Wells, HSBC & Chase

After announcing plans to raise $7 billion by selling ownership in their company, WaMu elaborated, “We will conduct our mortgage production business through our retail banking stores and our consumer-direct channels, which includes telephone and online sales. This is in line with our strategic direction to organize around our retail distribution network. As a result,

WaMu Brokerage Closes, Florida, FHA Rules, Mortgage Prices

Does $5 billion buy you the right to shutter Washington Mutual’s broker business? You bet it does. It buys you the right to tell Washington Mutual to eliminate the business channel by May 31st (loans must lock by tomorrow, and most loans must fund by June 13th). WaMu announced yesterday to their employees that they