Friday, May 27, 2011

MORE FACTS -- WASHINGTON MUTUAL BANK, FA (FDIC # 32633)

WASHINGTON MUTUAL BANK, FA (32633)

  • 10/1/1997 AMERICAN SAVINGS BANK,FA (FDIC Certificate # 32633) changed its name to WASHINGTON MUTUAL BANK, FA (32633)
  • 1/1/2005 WASHINGTON MUTUAL BANK, FA (32633) acquired WASHINGTON MUTUAL BANK (9576) in Seattle WA
  • 4/4/2005  WASHINGTON MUTUAL BANK,FA (32633) legally changed its name to WASHINGTON MUTUAL BANK (32633)
  • 9/23/2005  Moved bank headquarters from Stockton, CA to Henderson, Nevada.
  • Bank Charter Class"  Savings Association
  • Last regulator:  Office of Thrift Supervision

WASHINGTON MUTUAL BANK FSB (33891)
  • 4/15/1994     Washington Mutual Federal Savings Bank established (FDIC 33891)
  • 12/1/1995      Washington Mutual Federal Savings Bankchanged its name to Washington Mutual Bank FSB (33891)
  • 4/27/2007    Moved headquarters from Lake Oswego, Oregon to Park City, Utah

OTS FACT SHEET ON WASHINGTON MUTUAL BANK 9/25/2008

Total assets as of 6/30/2008    $307.02 billion
Primary executive & business Headquarters - Seattle, WA
Branches: 2,239 retail branch offices in 15 states
4,932 owned  & branded ATMs
Employees at 6/30/2008:  43,198
Loans held 6/30/2008:  $118.9 billion in single-family loans held for investment -- this includes $52.9 billion in payment option ARMs and $16.05 billion in subprime loans

12/2007, WMB announced the resizing of its Home Loans business including elimination of ~ 2,600 employee positions, closure of ~190 home loan centers and sales offices, and closure of 9 loan processing and call centers

OTS ENFORCEMENT ACTIONS:

  • 10/17/2007    Issued a Cease & Desist Order related to deficiencies in Bank Secrecy Act/Anti-Money Laundering (BSA/AML) programs
  • 10/17/2007 Assessed Civil Money Penalties (CMPs) related to violation of flood insurance regulations.
  • 11/14/2007 Initiated formal appraisal process to access validity of a complaint filed by the New York Attorney General's Office
  • 2/27/2008  Issued overall composite ratings downgrade and received a Board resolution in response to supervisory action
  • 6/30/2008  Initiated discussions about Memorandums of Understanding with WMI and WMB (sic, not Wash. Mutual Bank FA)
  • 9/7/208    Issued Memorandums of Understanding to WMI and WMB
  • 9/18/2008 Issued overall composite ratings downgrade
Source:  Office of Thrift Supervision Fact Sheet on Washington Mutual Bank; released Sept. 25, 2008; OTS 08-046A; contact, William Ruberry (202) 906-6677

3 comments:

  1. Has anyone seen this yet? https://entp.hud.gov/sfnw/public/lend_detail.cfm?lendlist=04041&lender_type=t2

    ReplyDelete
  2. The link above is directly from HUD showing that WMBFA (04164) national bank was the actual headquarter bank in Stockton CA. NOT (32633) and in 2007 was bought by WMBFA (73815) Henderson NV.

    ReplyDelete
  3. By law, National Banks must use NA or National Association in their name to identify themselves. This is a list of "Washington Mutual NA Banks, with their Institution ID#. They were all doing business as FA. (violation of by-laws & charter)

    WMB FA-WMHLI-FMC 57693 National
    WMB FA-WMHLI-FMC 47219 National
    WMB FA-WMHLI-PNC 12621 National
    WMB FA-WMHLI-FMC-PHMSC 32062 National
    WMB FA-HOMESIDE 70864 National
    WMB FA-NAMC 75326 National

    ReplyDelete