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Washington Mutual, Inc. (often abbreviated to WaMu) was an American savings bank holding company based in Seattle. It was the parent company of Washington Mutual Bank , which was the largest savings and loan association in the United States until its collapse in 2008.
From 2000 to 2007, WaMu and Long Beach securitized at least $77 billion in subprime loans, stopping only when the subprime secondary market collapsed in September 2007. WaMu sold another $115 ...
The receivership of Washington Mutual Bank by federal regulators on September 26, 2008, was the largest bank failure in U.S. history. Regulators simultaneously brokered the sale of most of the banks's assets to JPMorgan Chase, which planned to write down the value of Washington Mutual's loans at least $31 billion. [7] [8]
As a result of this takeover and those of American Savings and Great Western Financial, Washington Mutual became California’s second largest bank. At the time, HF Ahmanson had $55 billion in assets. [9] The acquisition also gave Washington Mutual control over a part of the Ahmanson Ranch, a hotly disputed undeveloped area northwest of Los ...
That's the advice that Washington Mutual gave some homeowners who called looking for help with their mortgage payments. Their reward for complying with that WaMu, Countrywide Legacy Lives on for ...
The bank was acquired by Washington Mutual in 1997 for $6.8 billion. Great Western Bank was held by Great Western Financial Corporation ("GWFC"), a corporation organized under the laws of the state of Delaware that was traded on the New York Stock Exchange under the stock symbol "GWF". [5]
In August 2000, Washington Mutual announced the pending acquisition of the Houston-based Bank United Corporation with its 155 branch offices, all located in Texas, for $1.49 billion in stock. [ 22 ] [ 23 ] [ 24 ] The acquisition was completed in February 2001.
Washington Mutual: H.F. Ahmanson & Co. Washington Mutual: JPMorgan Chase: 1999 [2] Fleet Financial Corp. BankBoston Corp. FleetBoston Financial Corp. Bank of America: 1999 Deutsche Bank AG Bankers Trust Corp. Deutsche Bank AG Deutsche Bank: 1999 HSBC Holdings plc: Republic New York Corporation HSBC Bank USA: HSBC Bank USA: 1999 Firstar Corporation