WaMu Built an Empire on Bad Loans

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(Only Washington Mutual and IndyMac, which went under last year. says a banker who worked closely with Lowder during this time, "and say, ‘Here are our bad loans. They’re all right here. It’s $325.

On a financial landscape littered with wreckage, WaMu, a Seattle-based bank that opened branches at a clip worthy of a fast-food chain, stands out as a singularly brazen case of lax lending. By the first half of this year, the value of its bad loans had reached $11.5 billion, nearly tripling from $4.2 billion a.

December 28, 2008 By Saying Yes, WaMu Built Empire on Shaky Loans By PETER S. GOODMAN and GRETCHEN MORGENSON "We hope to do to this industry what Wal-Mart did to theirs, Starbucks did to theirs, Costco did to theirs and Lowe’s-Home Depot did to their industry. And I think if we’ve done our job, five years.

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Can a Homeowner Lose Their 401k/Annuity in Foreclosure? Newest Posts . Newest Posts; Unanswered Discussions. (WaMu) to get the scoop on who the loss mit rep is, the numbers, ect.. She has a bad interest only loan, is completely upside down and is obviously stressed out. This will ease her mind a bit and I’ll try to get a free consult w/ a.

Historical Background of Washington Mutual. Washington Mutual was established in 1889 as the Washington National Building Loan & Investment Association after the great Seattle fire that consumed the majority of the business district. The beginnings were modest, to be sure, but not long after its creation, Washington National made banking history.

His rental empire includes nearly 5,000 homes in Texas – concentrated in suburban Dallas and Houston. Unlike earlier corporate landlords who built apartment complexes. Back then, banks bundled bad.

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Jamie Dimon wanted Washington Mutual and he wanted it bad. The JPMorgan Chase CEO was determined to expand on the West Coast, and Seattle-based WaMu was a prime target. Dimon had a team of.

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