bearvine_IHB
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MORTGAGE MELTDOWN
Washington Mutual to close 190 offices
...Expects to lose $1 billion in 1st quarter of '08
Washington Mutual Inc., the nation's largest savings and loan, said Monday that problems in the mortgage and credit markets are forcing it to close offices, lay off more than 3,000 workers and set aside up to $1.6 billion for loan losses in its fourth quarter.
...Elsewhere in California, Washington Mutual will close home-loan-related offices in Downey (Los Angeles County), 35 jobs; Irwindale (Los Angeles County), 35 jobs; and Irvine, 230 jobs.
<a href="http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2007/12/11/BUB6TRQ84.DTL&tsp=1"> Full article at SFGate</a>.
Washington Mutual to close 190 offices
...Expects to lose $1 billion in 1st quarter of '08
Washington Mutual Inc., the nation's largest savings and loan, said Monday that problems in the mortgage and credit markets are forcing it to close offices, lay off more than 3,000 workers and set aside up to $1.6 billion for loan losses in its fourth quarter.
...Elsewhere in California, Washington Mutual will close home-loan-related offices in Downey (Los Angeles County), 35 jobs; Irwindale (Los Angeles County), 35 jobs; and Irvine, 230 jobs.
<a href="http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2007/12/11/BUB6TRQ84.DTL&tsp=1"> Full article at SFGate</a>.