SEATTLE--(BUSINESS WIRE)--Nov. 1, 2007--Washington Mutual, Inc.
(NYSE:WM). We are surprised and disappointed by the allegations in the
complaint related to eAppraiseIT. We are suspending our relationship
with eAppraiseIT until we can further investigate the situation. We
have absolutely no incentive to have appraisers inflate home values.
In fact, inflated appraisals are contrary to our interests. We use
third-party appraisal companies to make sure that appraisals are
objective and accurate.
We have no further comment at this time.
WaMu, through its subsidiaries, is one of the nation's leading
consumer and small business banks. At September 30, 2007, WaMu and its
subsidiaries had assets of $330.1 billion. The company has a history
dating back to 1889, and its subsidiary banks currently operate
approximately 2,700 consumer and small business banking stores
throughout the nation. WaMu's press releases are available at
CONTACT: Washington Mutual, Inc.
Libby Hutchinson, 206-500-2770
Alan Magleby, 212-702-6955
SOURCE: Washington Mutual, Inc.