Hot off the Press another major player in the Mortgage Industry makes a major move. Washington Mutual, once one of the largest residential Mortgage lenders will stop originating mortgage loans through independent mortgage brokers due to the ongoing mortgage crisis. However, WAMU will still originate mortgage loans through its retail bank branches.
This is just one of over a 100 Mortgage lenders to drop out of the business in the past twelve months. It is why we are now experiencing the major issue of even closing an Escrow once it has opened!
