Washington Mutual Inc., Seattle, eliminated the equivalent of 4,500 jobs from its home loans group in the fourth quarter, and more cuts are on the way, a company executive said on a conference call to discuss fourth-quarter results (see item below).Chief administrative officer Craig Chapman said an additional 1,800 workers have been notified that their positions will likely be eliminated in the first quarter of this year. He said lowering the company's head count is "necessary and integral" to WaMu's ambitious plan to reduce its cost structure by $1 billion. WaMu can be found online at http://www.wamu.com.
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Elevated delinquency levels have not affected expected losses, however, due to home price appreciation, Fitch Ratings said.
5h ago -
Retail lenders, including Beeline, Tomo Mortgage and Rocket Mortgage, settled with the department over infractions like submitting a false certification to not having the proper liquidity to be in the program.
5h ago -
A pair of bills, one with bipartisan support, look to address the issues around heirs' property so these families can have clear title on their homes.
6h ago -
The agreement, in which the real estate giant admits no wrongdoing, will cover around 70,000 agents.
8h ago -
Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
April 25 -
Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
April 25