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wamu: Woo Hoo or WTF? A letter to my mom about the pending crash (or sale?) of the largest savings thrift at Wamu... - 09/17/08 06:43 PM
It has been several months since I've had the opportunity to post. My mother taught me that if you can't say anything nice, then don't say anything at all.......
Mom...I apologize in advance for ignoring your wisdom.
I can't resist any further; and NO, I will not tell you what WTF means....I can't tell you everything.
This industry that I'm in is coming apart at the seams. You know that while I've always been wise about my investments, as well as the movements I made throughout my career, none has affected me as negatively as my days at WaMu. I spent … (21 comments)
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wamu: Breaking News....WAMU to shut down all RETAIL AND WHOLESALE lending offices at the end of this month - 04/07/08 06:31 PM
I always knew that the company was in some trouble, given all of the recent changes recently, but it seems like the deferred interest (neg am) loan has become the nail in their coffin.
A friend of mine on Wall Street just informed me that a huge conference call just occurred where Wamu announced that they will only handle loans through their branches, choosing to shut down all retail and wholesale lending offices at the end of this current month, April 30th, 2008.
As I receive transcripts or additional breaking news, I will let everybody know.
Bill Nazur has an extensive … (41 comments)
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wamu: WAMU is certifiably stupid......but a great PR machine! - 11/19/07 01:44 AM
A couple of months ago, I asked the question in a previous blog, titled is 'Wamu wise or stupid?" Here is the link: http://activerain.com/blogsview/222979/WAMU-are-you-wise
I am extremely impressed that the public relations machine at Wamu has effectively prevented so much of their information from htting the media.
Wamu, the nation's largest savings and loan, announced on Friday that they would cease issuing mortgages, commonly known, as the Option Arm on all refinance transactions until further notice, and have changed the parameters for purchase transactions to require a minimum of 20% down.
Typically this kind of news would not be a … (23 comments)
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wamu: WAMU....are you wise or stupid? - 10/02/07 09:58 AM
Hey Wamulians:
My name is Kerry Killinger, and I really need to justify my job right now as CEO of this animal that we call WaMu. Washington Mutual was too boring, and sounded too much like a responsible lender, so we've decided to shake things up a little. If we're lucky, nobody will figure out that just shy of 80% of our portfolio of business is Option Arm (negative amortization) business, and of that close to 55% is stated income....this of course does not include our subprime or Alt A business, but let's not worry about that for now......
… (35 comments)
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Bill Nazur
Corona,
CA
More about me…
Address: Corona, CA, 92882
Office Phone: (949) 274-8950
Email Me
All Real Estate....all the time....how Real Estate can help you achieve your goals, as well as what is wrong with the industry. Pure, unabashed honesty. Critical to my mission is to help underserved families and communities improve their position to create a legacy for their children.
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