Washington Mutual announced today that it would no longer make wholesale loans. What does that mean? A regular broker can no longer get a buyer a deal through WaMu. If you want a WaMu loan, you must go to a WaMu office. This is just another way that consumer choice is being eroded now in our new lending "climate."
Judy Graff's sublime-to-the-ridiculous (well, mostly ridiculous) take on real estate for east San Fernando Valley and North Los Angeles communities. This includes Hollywood Hills, Burbank, Studio City and Toluca Lake real estate and homes for sale, and also covers Valley Village, North Hollywood, Glendale, Atwater, Highland Park, Silverlake, Sherman Oaks and other L.A. areas too. General news and musings as well.
Tuesday, April 08, 2008
WaMu takes its business to another level -- and it's not good
Washington Mutual announced today that it would no longer make wholesale loans. What does that mean? A regular broker can no longer get a buyer a deal through WaMu. If you want a WaMu loan, you must go to a WaMu office. This is just another way that consumer choice is being eroded now in our new lending "climate."
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