« 30-Year Mortgages Fall to 5.69 Percent, Lowest Rate Since 2005 | Main | Guardian Mortgage Documents, RoboDocs Form Alliance »
January 18, 2008
WaMu, Caught in Mortgage Turmoil, Posts Big Loss
Battered by the mortgage meltdown, Washington Mutual Inc. has posted a $1.87 billion fourth-quarter loss that was fueled by a sharp increase in its reserve for loan-related losses. Seattle-based WaMu is exposed to some of the nation's hardest-hit housing markets, most notably California and Florida; and now problems are spreading to credit cards and other types of loans.
Posted by S. Germain at January 18, 2008 08:11 AM