Industry News

WaMu beats ’05 profits despite reversal in mortgage lending

Home loans unit goes from breadwinner to money-loser in '06
Published on Jan 18, 2007

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by CareyBot

It’s like night and day: Washington Mutual Inc.’s home loans unit generated $1.03 billion in profit in 2005, and lost $48 million in 2006, the bank said in reporting fourth-quarter earnings. But solid performance in retail and commercial banking and ...