This just received from a loan officer at Washington Mutual:
Dear Clients and Colleagues,
The acquisition of WaMu by JPMorgan/Chase strengthens our commercial real estate lending program and provides stability in an environment of change. Please be assured that we will fund our loans as expected, and we look forward to taking new applications from you.
As JPMorgan/Chase, we offer real estate loans for stabilized office, retail, industrial, and apartment buildings as WaMu has always done. In addition, you can expect a significant expansion of our product lines. Watch for these new services in 2009-2010:
Residential Development (single-family lots, homes and condominiums)
Construction, Bridge, and mini-perm loans for development and lease-up
Real Estate Banking for large transactions of $10-$100million
While change is difficult, this move places us in the top position to deliver new products and our usual great service.
Please consider me for your next deal. We look forward to working with you.
Exxx J. Mxxxx
Senior Loan Consultant
Washington Mutual Bank
WaMu Head Office – WMC 3801
1301 2nd Avenue
Seattle, WA 98101