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Wamu Makes Changes; CIT Exits 

Jul 19, 2007By

Reinforcing an email I’d received from a HW reader yesterday, WaMu said in its earnings call that it’s taking some drastic steps towards improving the performance of its subprime loans: Starting immediately, homeowners will have to meet stricter standards to get a mortgage and some loans won’t be offered at all, including subprime stated-income loans, [Washington Mutual] Chief Executive Officer Kerry Killinger said during a conference call …

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