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WAMUWashington Mutual
WAMUWest African Monetary Union
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Citing a source familiar with WaMu, Atlanta Bizjournal said that the federal government's proposed USD700bn plan to purchase bad mortgages from ailing banks might help pave the way for a WaMu sale.
With the proceeds of the offering, the company's capital ratios are expected to remain well above its targeted levels during the period of elevated credit costs in its loan portfolios in 2008 and 2009, according to WaMu Chairman and Chief Executive Officer Kerry Killinger.
Layoffs are part of that cycle; WaMu has announced 13,450 since last August, including about 2,500 jobs lost as the company closes 100 loan centers around the country and a mortgage loan processing facility in San Antonio.
Since 1990, Kerry Killinger has led WaMu to double-digit increases in revenue and earnings.
WaMu then conducted several focus groups, drawing from a series of different age groups in several major California cities.
While this settlement by no means compensates investors for the full amount of their damages, we believe it is a good result given the bankruptcy of WaMu and limited funds available," said Toll who, along with Scott + Scott LLP, represents the Boilermakers National Annuity Trust, Doral Bank Puerto Rico, and the Policemen's Annuity and Benefit Fund of Chicago.
WaMu had then chosen a USD7bn financing led by TPG Capital, formerly Texas Pacific Group, which valued WaMu at USD8.
In 2003, WaMu began a program to bring the mortgage banking business' cost structure in line with production volumes as part of its companywide 18-month expense-reduction plan.
The new branch will occupy the corner space on the blockfront between 75th and 76th Streets -- probably the best block in the neighborhood, one that WaMu will share with The Body Shop, Neuhaus Chocolatier, Papyrus, Gazoontite, and Eye to Eye"
District Court for the Western District of Washington, on Friday granted class certification to Plaintiffs who collectively had purchased WaMu Mortgage Pass-Through Certificates on or before Aug.
WaMu, which has about 1,700 workers in the Chicago area, is also cutting jobs in California, Florida, Texas and Washington, the report said, adding that the cuts represent about 2.
In light of the changed conditions and uncertain outlook for the mortgage market, WaMu also said it will broaden its outlook for diluted earnings per share for 2004 to a range of $4.