WaMu has now put $3 billion towards the fund, which the company says has already assisted more than 7,500 homeowners since its launch in April 2007.
Those interested in the program can contact loan specialists at 800-881-7099 to inquire about all the details, and don’t worry, they won’t throw you into an option arm.
In the same announcement, WaMu said it was discontinuing all negative amortization loans and its WaMu Mortgage Plus program (which allowed borrowers to toggle between fixed and variable rates) in what it calls the company’s “retail-focused business strategy.”
In related news, WaMu plans to layoff hundreds of their more than 45,000 employees nationwide tomorrow across all departments.
Shares of the Seattle-based savings and loan closed the day up 4 cents, or 0.64%, to $6.26, not far from their 52-week low (and 16-year low) of $5.75.