JPMorgan Chase & Co. is talking to Washington Mutual about possibly buying the nation's largest thrift, according to industry sources. One source close to WaMu said, "there's a lot of suits walking around the hallways" at the lender's headquarters in Seattle. The JPMorgan-WaMu rumors are not new. In years past the two parties have engaged in sale talks, investment bankers said. Among residential lenders, Chase Home Finance ranks third and WaMu sixth, according to the Quarterly Data Report. Both depositories do not comment on market rumors. WaMu has a market cap of $13 billion based on Friday's share price.
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Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
9m ago -
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
2h ago -
Independent mortgage bankers lost the most money ever on every loan originated last year due to higher rates and lower volumes, an industry trade group said.
2h ago -
While home lenders are seeing a decrease in issues coming through mobile channels, phone fraud spiked last year, accounting for 28% of losses, a new report found.
5h ago -
The massive mortgage business saw a first quarter profit mitigated by nearly $300 million in hedging losses.
April 24 -
The Consumer Financial Protection Bureau has seen excessive property-inspection charges, fees that loan mods should eliminate and improper line-item labels.
April 24