It provided market rate mortgages which it held in the branch’s own portfolio. (WaMu advertised that its “WM Mortgage Loans” were never sold). Your home is a place to live, raise your family- not an investment.
Whether it’s a MCM (Mid-Century Modern) or other, that’s the way it should be regarded, loved and cherished. And a good home mortgage, preferably locally held and serviced made all this possible for me and my clients. As did many other Seattle natives, I started with “School Savings” pictured as a mural on the wall of a branch.
WaMu and many other of the troubled banks and mortgage lenders got off on the wrong foot when they went after the derivative bundled mortgages that were in demand by big operative builders like Toll Brothers as covered in this very inclusive 10/16/05 NYT Magazine article- Chasing Ground.