Mortgage Daily Logo
mortgage news from industry experts

WaMu Continues Trimming Staff

WaMu Continues Trimming Staff

65 Sacramento layoffs

November 2, 2006


photo of Coco Salazar
More mortgage job layoffs are scheduled at Washington Mutual Inc.

Approximately 65 employees in Sacramento, Calif., recently received notice that their jobs would be eliminated, WaMu spokeswoman Olivia Riley told in an e-mail statement.

“This decision supports our efforts to more effectively manage expenses,” Riley said. “This location will continue to be a WaMu site; we’re simply reducing our staffing level.

WaMu said it currently has about 280 employees in Sacramento.

Work from the Sacramento home loan back-office support center will be transferred to loan fulfillment centers in Pleasanton, Calif., and Bellevue, Wash., according to the statement.

While different groups of the affected employees will have varying end dates to ensure continuity of the operations, most of the jobs will be eliminated by yearend, Riley said.

Also within this quarter, the Seattle-based thrift reportedly finished cutting about 350 jobs from its real estate appraisal group and laying off 82 back-office positions that supported nonprime lending.

WaMu said home loan staff shrunk by 1,430 employees during the third quarter.

Coco Salazar is an assistant editor and staff writer for

Popular posts

How Long Does It Take to Refinance a Mortgage
How Long Does It Take to Refinance a Mortgage

So, you’re interested in refinancing your mortgage. Maybe you want some extra capital to do that home project you’ve always dreamed of, interest rates are nearing record lows, or you want to start consolidating debt. Regardless of the motivation behind the refinance,...

How Does Refinancing a Mortgage Work
How Does Refinancing a Mortgage Work

A home purchase is considered an investment, and a robust one at that. Savvy owners are constantly looking for new ways to reduce debt, save money, pay less in interest, and ultimately build equity. Refinancing is one way to leverage your investment and do just that....

What Does It Mean to Refinance Your Home
What Does It Mean to Refinance Your Home

You can think of refinancing your mortgage as a debt redo. Essentially, you’ll swap out the existing loan for a new one - ideally with better terms and conditions. Only this time it could help you save money on high mortgage payments, rather than just borrow it....

Setting up the Utilities in My New House
Setting up the Utilities in My New House

All the tedious, time-consuming home closing documents have been signed, sealed, and delivered. Your belongings are packed into what seems like a million boxes and you have a solid plan to haul all your existing furniture to the new place. Just as your boxes and...

When Is My First Mortgage Payment Due?
When Is My First Mortgage Payment Due?

Navigating your way through a brand new mortgage loan can be a difficult task, especially for first time homeowners. After handing over a large sum of money for the down payment and closing costs, it’s important to pay attention to the timing of your first mortgage...


Don’t worry, we don’t spam

calculate your monthly mortgage payment

Related Topics

Helpful Links

Daily mortgage rate trends

Best mortgage lenders

First-time homebuyers programs by state

Loan limits by state

Types of mortgages

APR vs interest rate

Understanding PMI

Related Posts