Washington Mutual Closes Loan Centers

Some of you may have heard recently that Washington Mutual was exiting the wholesale lending business. According to the Wall Street Journal today, the rumors have been confirmed. Washington Mutual is reportedly closing all 186 of its stand-alone home loan centers and laying off 3,000 employees. According to Bloomberg, "Washington Mutual will stop making loans through mortgage brokers and...focus on its 2,500 bank and small business lending offices."