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Washington Mutual Decides to Exit Wholesale
**Click here to see the original post on WealthWithMortgage.com!**
Announced (late) yesterday, Washington Mutual will be exiting the wholesale business and changing to a strictly retail business model.  The decision was extremely surprising to me after a recent conference call I was involved in.  In the call, WAMU discussed some of their plans the wholesale division.  These changes were specifically targeted at reducing fraud issues, verifying benefit to borrower, etc. 
I guess since they've announced they are closing, It doesn't really matter - does it?
For you're entertainment, I googled 'WAMU' under the image search feature.. This was the first photo that popped up, not kidding.  I have to be honest, it's not the way I feel about it.. but it definitely took the edge off.  I almost fell out of my chair laughing.  So, I'm going to post it for you.. I hope you find it comforting (or something like that). Seriously, I'm still laughing.
Here's the official announcement to brokers:
"Today, WaMu announced significant changes affecting our Home Loans business. As part of this announcement, and consistent with the company's retail focused strategy, WaMu has made the very difficult decision to exit the Wholesale lending business. In order to have an orderly shut ... more

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