Washington

Posted by David Edwards under For Buyers, For Sellers, For Realty Professionals, Regional - West, General Information, News & Media, Mortgage Market Updates

Washington Mutual Inc.

QUESTION AND ANSWER GUIDE

FDIC CALL CENTER

877-275-3342

(877-Ask-FDIC)

HOURS OF OPERATION - All Hours are EASTERN TIME

Thursday, September 25 9:00 PM - Midnight
Friday, September 26 7:00 AM - 10:00 PM
Saturday, September 28 8:00 AM - 10:00 PM
Sunday, September 29 8:00 AM - 10:00 PM
Thereafter 7:00 AM - 10:00 PM

1. What about my account with Washington Mutual?

All deposit accounts, which include Checking, Savings, Money Market, CDs and Retirements accounts have been transferred to J.P. Morgan Chase. Regardless of the dollar amount. No one lost any money that was on deposited in Washington Mutual.

If you had an account with Washington Mutual you now have an account with J.P. Morgan Chase

2. What about my loan or mortgage with Washington Mutual?

All mortgages and loans have been assumed by J.P. Morgan Chase Your payment amount and due date are the same. If you are having you payment taken out of your account it will continue as it has in the past. You should send your payments to the same address you have been using. Continue to make your checks out to Washington Mutual.

3. What about my debit card and/or bill paying with Washington Mutual?

Your debit card will continue to work and bill paying will work as it has in the past.

4. What about checks that I have written on my account with Washington Mutual?

Your checks will clear up to the balance in your account. You can continue to use the checks you have.

5. What will happen to my direct deposits?

Direct Deposits will continue as normal, including Social Security checks.

6. Will I continue to earn interest at the same rate?

All interest on all deposits accrued through September 25, 2008, will be paid at your same rate. J. P. Morgan Chase will be reviewing rates and will provide further information soon.

7. How can I claim the contents of my safe deposit box?

It is business as usual. You can go to your local branch and access your safe deposit box. However no action on your part is required because of this transaction.

8. I already have other deposit accounts with the new bank. When combined with balances at this bank, my deposits exceed $100,000. Are all funds insured?

The accounts transferred to J. P. Morgan Chase will be separately insured for at least six months after the merger. This grace period gives a depositor the opportunity to restructure the accounts, if necessary.

CDs from the failed bank are separately insured until the earliest maturity date after the end of the six-month grace period. CDs that mature during the six-month period and are renewed for the same term and in the same dollar amount (either with or without accrued interest) continue to be separately insured until the first maturity date after the six-month period. If a CD matures during the six-month grace period and is renewed on any other basis, it would be separately insured only until the end of the six-month grace period.

9. What happens if I had a loan in process that had not closed or a line of credit not fully funded?

You should contact your loan officer. All prior contacts remain the same as before.

10. I represent a TV/Newspaper/Radio and would like some information.

David Barr

202-898-6992 (office)

703-622-4790 (cell)

Email: dbarr@fdic.gov Andrew Gray

202-898-7192 (office)

202-494-1049 (cell)

Email: angray@fdic.gov

11. What about my shares of stock, notes or subordinated notes that I own in Washington Mutual

Stock: Stockholders have a claim against the receivership; however, they have t