Washington Mutual Sees About 75% Drop In Q3 Profit

Mon, 12 Nov 2007 15:58:44 +0200

Quick Facts [WM] 10/5/2007 8:20:40 AM Washington Mutual, Inc. (WM) announced that a weakening housing market and disruptions in the secondary market through the end of the third will result in a decline in net income of approximately 75% from the prior year quarter. The expected decline in third quarter net income results principally due to a loan loss provision that would be approximately $975 million, which exceeds net charge-offs for the quarter by approximately $550 million. The p

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Washington Mutual Home Equity Loan

Washington Mutual Sees About 75% Drop In Q3 Profit