Washington Mutual

• Freddie Mac today committed to buy as much as $20 billion in subprime mortgages, while Washington Mutual Inc. offered to refinance $2 billion in loans as the U.S. mortgage finance industry made its biggest gesture yet to help borrowers with poor credit histories avoid losing their homes.
• Shares of Washington Mutual, the country's largest savings and loan, rose 2.9% to $41.47 in AH trading last night after the company reported a smaller-than-expected decline in Q1 profit.
• In a conference call with analysts Tuesday, Washington Mutual Inc. raised its 2007 guidance for bad-loan provisions to a range of $1.3 billion to $1.5 billion, from a range of $1.1 billion to $1.2 billion.

• The 21st annual Red Bank Jazz & Blues Festival, presented by Washington Mutual Bank, will take place June 1 through June 3, festival organizers announced Thursday.

• Fitch rates the following two Washington Mutual Master Note Trust classes: $1.1 million class 2007-A1 floating-rate notes 'AAA'; $150 million class 2007-B1 fixed-rate notes 'A'.

• The Sarasota chapter of the Women's Council of Realtors recently installed the following new members: Mary Conklin of Re/Max Gulfstream; Mary Lou Bear of AmSouth/Regions Bank; Kristin Poolman of Washington Mutual; Renea Glendinning of Kerkering Barberio; Debbie Dietz of Alliance Appraisal; Mary Colonese of Insignia Bank; Chris Zorn of Paradise...

• Shares of Washington Mutual Inc. and Countrywide Financial Corp. fell after analysts said the mortgage lenders will earn less in coming quarters because of losses in the subprime lending market.
• Cool, calm and collected is how a bank robber appeared Monday afternoon as he casually waited in the customer service line at Vacaville's Washington Mutual Bank and briefly turned his face to the security camera before handing the teller a note indicating his criminal intention.

• Washington Mutual has opened a bank branch in the pavilions Shopping Center at 36-101 Bob Hope Drive in Rancho Mirage. Information: 324-9398 Rite Aid has opened a new store at 51-101 Harrison Street in Coachella.

• The credit rating company assigned a preliminary rating of AAA to the Charlotte, North Carolina bank's program, the second to use US home loans as collateral after Washington Mutual Inc. sold €4 billion of the securities on September 27. Covered bonds are AAA rated securities popular in Europe that use assets on an issuer's balance sheet as collateral, providing investors with a stronger ...

• Police said a man claiming to have a bomb robbed a Washington Mutual Bank in Copiague, Long Island, on Wednesday.
• Time for Change Foundation and Washington Mutual are offering a free, weekly financial-literacy and credit-repair class from 6 to 7:30 p.m. Wednesdays at the YWCA, 567 Sierra Way, San Bernardino. Free food and child care are offered to all who attend.

• Boise police are looking for a man who robbed the Washington Mutual Bank at 6490 S. Federal Way with a handgun this morning. The report of the armed robbery came into Ada County dispatchers at 10:51 a.m. Witnesses told police a man walked into the bank, showed a teller a handgun, and demanded cash.
• Washington Mutual has joined NACHA -- The Electronic Payments Association as a direct financial institution member. According to the most recent NACHA Top 50 list, WaMu is the nation's fifth largest receiving financial institution of ACH payments.
• A gunman held up Washington Mutual bank on El Camino Real Tuesday afternoon and escaped before police arrived.

Quote of the Day: "Never leave that till tomorrow which you can do today." Benjamin Franklin

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