WaMu Says Liquidity May Be Affected

Mortgage giant Washington Mutual, Seattle -- citing the current subprime crisis -- says in a new public filing that its liquidity may be affected by its "inability to access the capital markets or by unforeseen demands on cash."As of MortgageWire's deadline, WaMu's stock was trading down $1 a share at $36. In a filing with the Securities and Exchange Commission, WaMu noted that liquidity "is essential to the company's business," adding, "liquidity in the secondary market for nonconforming residential mortgage loans and securities backed by such loans has diminished significantly." According to the Quarterly Data Report, WaMu is the nation's sixth-largest residential funder. It also ranks sixth among subprime firms.