Who took over HomeSide Lending?
Under the terms of the agreement, Washington Mutual has acquired approximately $2.1 billion in HomeSide assets, including approximately $1.9 billion in performing warehoused prime residential mortgage loans.
What happened to HomeSide Lending?
Employees at HomeSide Lending weren’t surprised Tuesday when they learned the company had been sold. After six months on the market and sporadic speculation about the buyer’s name, Washington Mutual (NYSE: WM) bought the mortgage company for more than $1.9 billion.
Who bought BancBoston mortgage Corporation?
HomeSide was created March 15 when Bank of Boston spun off its BancBoston Mortgage Corp., sold part ownership to Thomas H. Lee Co. and Madison Dearborn Partners and based the company in Jacksonville, Francis said. HomeSide opened with BancBoston’s $42 billion mortgage servicing portfolio.
Is Washington Mutual bank still in business?
Washington Mutual Inc. Washington Mutual, Inc—abbreviated to WaMu—was a savings bank holding company and the former owner of WaMu Bank, which was the United States’ largest savings and loan association until its collapse in 2008. All WaMu branches were rebranded as Chase branches by the end of 2009.
Does BankBoston still exist?
BankBoston currently exists solely as an international private bank, a subsidiary owned by Bank of America.
What happened to the First National Bank of Boston?
It was renamed the Bank of Boston, N.A., in 1982 and became BankBoston Corporation in 1997. After the company was acquired in 1999 by another leading New England banking firm, Fleet Financial Group, the newly formed company, FleetBoston Financial, was acquired by Bank of America in 2004.
What happened to the Lehman Brothers?
Over the weekend of September 13, Lehman, Barclays, and Bank of America (BAC) made a last-ditch effort to facilitate a takeover of the former, but they were ultimately unsuccessful. Lehman stock plunged 93% between the close of trading on September 12, 2008, and the day it declared bankruptcy.
What did Shawmut bank become?
By the end of 1971, assets of the National Shawmut Bank alone had reached $1.37 billion. was renamed Shawmut Corporation, and its expansion of banking operations continued in the form of mergers with bank holding companies rather than the simpler acquisition of independent banks.
Did Fleet bank became Bank of America?
FleetBoston Financial was a Boston, Massachusetts-based bank created in 1999 by the merger of Fleet Financial Group and BankBoston. In 2004 it merged with Bank of America; all of its banks and branches were converted to Bank of America.
Who did Bank of Boston merge with?
In 1995, Bank of Boston announced a merger with BayBank, another local financial institution. Although still smaller than its failed takeover targets earlier in the decade, BayBank had a strong retail banking operation, with 205 branches and over a thousand ATMs.