WaMu closing two mortgage units

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Good morning, T.J. Simers. What kind of spread does $300,000 buy in Fordyce, Neb.?

Bloomberg News reports mortgage jobs are going, and coming, at WaMu. ‘Washington Mutual Inc., the largest U.S. savings and loan, said Wednesday that it would shutter one division that bought mortgages from other home lenders and another that financed mortgage companies.

‘The closures will result in about 1,000 firings, Washington Mutual spokesman Alan Gulick said. But the Seattle-based company also plans to hire about 1,000 loan officers in the next few months in its mortgage and bank branches....’

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