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December 23, 2005

Washington Mutual

Washington Mutual will align its single-family residential mortgage lending operations under one management team to streamline operations and improve service. Management of Long Beach Mortgage Co., the company's subprime lending business, and Mortgage Banker Finance, warehouse lending, will move from the Commercial Group to David Schneider, president of the Home Loans group. The balance of the Commercial Group, including multifamily lending, will report to Al Brooks. Craig Chapman, president of the Commercial Group, will leave the company Jan. 31, 2006.




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