wachovia bank

Housing

Another One Bites the Dust: Wachovia Shuts Mortgage Unit

by Joshua Dorkin | July 22, 2008

The Associated Press is reporting today that Wachovia Bank, the nation’s fourth largest bank in terms of assets, will be shutting down it’s mortgage lending division. “Wachovia Corp. lost $8.86 billion in the second quarter, and said Tuesday it was slashing its dividend and cutting 6,350 jobs after losses tied to mortgages soared.” In addition, [...]

3 comments Read the full article →
Copyright © 2004-2012 BiggerPockets, Inc. All Rights Reserved.
BiggerPockets® is a registered trademark of BiggerPockets, Inc.