What Was Washington Mutual (WaMu)?

Washington Mutual (WaMu) was a Seattle-based savings bank and the largest US thrift institution before its 2008 collapse during the subprime mortgage crisis. Its operations included:

1. Residential Mortgage Lending

Major lender offering fixed-rate, adjustable-rate, jumbo, and subprime mortgages.

2. Retail Banking

Checking/savings, money market, CDs, credit cards, personal loans for individuals and small businesses.

3. Commercial Banking

Business loans, lines of credit, cash management, international services.

4. Wealth Management

Brokerage, estate planning, trust services for high-net-worth clients.

5. Insurance

Home, auto, life, and disability insurance products.