Industry News

WaMu sells $140 billion in home loans to Wells Fargo

Sale part of strategy to focus on higher-margin products
Published on Jul 20, 2006

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by CareyBot

Washington Mutual is selling all of its government mortgage servicing and part of its conforming, fixed-rate loan portfolio to Wells Fargo & Co. — about $140 billion in debt, all told, held by 1.3 million customers. To smooth the transition, ...