JPMorgan Chase

Washington Mutual to Exit Wholesale Lending: Sources 

(Update 1: adds contents of broker email) Housing Wire has learned that Washington Mutual [stock WM][/stock] allegedly informed industry participants of its decision to exit wholesale mortgage origination on Monday evening, according to numerous sources. HW received a copy of an email allegedly sent to some brokers informing them of the move. “[C]onsistent with the company’s retail focused strategy, WaMu has made the very difficult decision to exit the Wholesale lending business,” the email said. Washington Mutual did not immediately respond to a request seeking comment.