Bank of Everett and 3 others merge into the Bank of the Northwest in an effort to survive.Four Washington state-based banks, including the Bank of Everett, will begin operation as one institution Monday.
Bank of Everett will consolidate itself into Bank of the Northwest, along with Bank of Bellevue, Bank of Tacoma and Issaquah Community Bank. [...]

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Evergreen Bank Seized by FDIC and Sold to Umpqua Bank of OregonThese closures are becoming more and more common place and aren’t even making the news anymore.  Friday the FDIC shuttered Evergreen bank and sold it to the Umpqua bank of Oregon.  The predictions I am seeing is that the current financial crisis is accelerating [...]

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Do you think you are actually going to make an offer on that property?I had to share this very funny and not so far from the truth video about buying a bank owned property.  It is becoming increasingly more frustrating to help buyers get into a home, simply because the banks and listing agents just [...]

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Taylor, Bean & Whitaker Ceases All Lending ActivityWell, holy crap!  Anyone want to start playing ‘Another One Bites the Dust’
It just came across my desk that Taylor, Bean & Whitaker Mortgage Company, one of the major players in residential home mortgages has bit the dust.  Apparently FHA has barred them from doing loans for them, [...]

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Washington State Banks ReboundCitigroup bolstered confidence in Washington state banks yesterday by announcing that is had made a profit for the first two months of the year.  After a stormy 2008, confidence in most banks is at a low, so for Citibank to announce positive numbers is a definite bright spot.  Other bank’s stock bounced [...]

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Fannie Mae has announced a temporary hold on evictions and foreclosures pending announcement of a Federal national foreclosure prevention and loan modification program.

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Fannie Mae Increases the Number of Houses You May OwnI have to thank Rhonda over at Rain City Guide for breaking this news to me.  It looks like on Friday, Fannie Mae revised its rules and now will allow borrowers to have from 5 to 10 homes depending of course on their criteria. As per [...]

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WHERE THE HECK DID THE GOOD INTEREST RATES GO?!!Ok…..so we’ve dumped billions of dollars into the bank in hopes of stimulating the economy and have now promised to buy up bank stocks in order create stability.  I thought this was supposed to make the banks willing to lend more money?  Anyone else confused as to [...]

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Is the Bailout going to work?Is the $700 million dollar bailout going to work?  Very interesting question and the answers vary from analyst to analyst.  In my opinion, there are way too many wild cards to fully predict the outcome at this time.  So, the government is going to buy up all the “bad” mortgages [...]

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Outrageous WAMU severance packages!Recently the words of “golden parachute” and “executive severance” have been common place in the media.  In regards to  outrageous WAMU severance packages, the following is what has been reported:
The WaMu executive with the biggest termination package is Stephen Rotella, president and chief operating officer, who is entitled under his current employment [...]

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