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Is WaMu Talking to JPM?
Seattle -- JPMorgan Chase & Co. is talking to Washington Mutual here 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.
If the two wind up combining forces, the resulting servicing platform would have $1.37 trillion in housing receivables, ranking third nationwide behind Countrywide Financial Corp., Calabasas, Calif., and Wells Fargo Home Mortgage, San Francisco, according to figures compiled by Mortgage Servicing News and the Quarterly Data Report. (Bank of America has agreed to purchase CFC, which would create a $1.9 trillion servicer. See related story.)
A WaMu/JPM combo would result in a company with a market share of 15.12%. (See table.) Among the nation's largest banks/investment banking firms JPM, so far, has emerged relatively unscathed by the subprime crisis.
In the fourth quarter it wrote ...
- WaMu Still Wary of Mortgage Servicing Rights.
- Magazine article from: Mortgage Servicing News November 1, 2005 700+ words
...mortgage loans and mortgage servicing rights to account for a lower share of WaMu's assets in the...Killinger reiterated WaMu's desire to reduce...volatility of its mortgage servicing rights. As previously announced, WaMu plans to cap its...
- Action Headed for Wamu Implies Integration Glitches.(case against Washington...
- Magazine article from: American Banker Julavits, Robert February 4, 2002 700+ words
...but with four major deals in two years, Wamu's team appeared to be defying skeptics...Now comes perhaps the first hint that Wamu is suffering at least some indigestion...of course, Enron. The suit against Wamu, which had yet to be certified, says...
- WaMu Plans to Rein in Size of MSR Asset.
- Magazine article from: Mortgage Servicing News Cornwell, Ted September 1, 2005 700+ words
...time, he said WaMu will try not...potentially volatile mortgage servicing rights asset...necessarily mean that WaMu will have to...growth of its mortgage servicing portfolio. After...contraction, WaMu's MSR portfolio...
- Despite Impairment, WaMu Posts Record Earnings.
- Magazine article from: Origination News Cornwell, Ted February 1, 2002 700+ words
...value of its mortgage servicing rights, Washington...quarter. In fact, WaMu posted record...500 billion mortgage servicing portfolio exceeded...quarter, and WaMu added $1.06...impairment of mortgage servicing rights. But...
- Killinger: WaMu Still Wary of Mortgage Growth.
- Magazine article from: National Mortgage News September 19, 2005 700+ words
...mortgage loans and mortgage servicing rights to account for a lower share of WaMu's assets in the...Killinger reiterated WaMu's desire to reduce...volatility of its mortgage servicing rights. As previously announced, WaMu plans to cap its...
- Wamu Profits Fall, Will Sell Some Operations.
- Magazine article from: American Banker Cole, Jim July 20, 2006 700+ words
...351 billion-asset Wamu said it expects to...sale of its government mortgage servicing portfolio and a portion...transaction would shrink Wamu's mortgage servicing portfolio by about...increase Wells' by 13%. Wamu is "actively repositioning...
- WaMu Reports Record EPS, Lending Volume.
- Magazine article from: National Mortgage News January 27, 2003 700+ words
...Neill noted that WaMu's fourth- quarter mortgage servicing impairment of...8 billion. WaMu puts the value of its mortgage servicing portfolio at...fourth quarter, WaMu completed the...Lending's mortgage servicing portfolio...
- WaMu Still Searching for Mortgage Profits.(Financial report)
- News wire article from: Mortgage Line Cornwell, Ted September 13, 2007 700+ words
...volume. The value of the mortgage servicing rights improved, and WaMu said its hedging costs were...generated $108 million in mortgage servicing revenue during the second quarter. WaMu's servicing portfolio totaled...
