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Single family homes on the market. Updated weekly.Powered by Altos Research
722,032+456
30-yr Fixed Rate30-yr Fixed
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30-Yr. Fixed Conforming. Updated hourly during market hours.
7.00%0.01

Washington

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33rd Bank Failure Costs $108 Million; FDIC Named Receiver 

May 11, 2009By

The Washington Department of Financial Institutions on Friday shut down Westsound Bank and named the Federal Deposit Insurance Corp. (FDIC) as receiver. The failure puts $334.6m in assets on the line for sale or disposition. It marks the 33rd failure of the year, compared with the three bank closures seen by the same time in 2008, indicating the fallout from recession is continuing to unwind.

3d rendering of a row of luxury townhouses along a street

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