Chase: Two-Thirds of WaMu Mortgages Impaired
More interesting tidbits from Chase’s investor day.
Chase said two-thirds of the $173.5 billion in mortgages picked up via its acquisition of Washington Mutual assets were deemed “impaired,” per the Seattle Times.
That’s $116.7 billion in bad loans, though Chase said it has already written down their value to $88.8 billion.
A hefty 82 percent of the pay option arms are considered impaired, Read more