Washington Mutual to shut East Bay loan-processing center - 2004-01-15
Washington Mutual Inc., looking to cut costs in its slumping mortgage-lending business, will shut down a loan-processing center in Pleasanton at the end of March and lay off about 170 workers.

Nationwide, Washington Mutual will close 18 of its 58 back offices and lay off about 2,900 workers in an effort to trim $1 billion from expenses over the next 18 months, said Adrian Rodriguez, a company spokesman.
Read the full story at Contra Costa Times

Property Valuations Sees Big Increase - 2004-01-15
Residential property assessments in Montgomery County surged 55.5 percent, or close to 18 percent a year, in notices sent out last month by the state, which assesses property in different sections of the county on a three-year cycle.

"As long as mortgage rates stay around 6 percent, I think you're going to see an increase in property values," Gilbert said. "And as long as the market keeps increasing, it makes it very difficult to show that the assessment doesn't match market value."
Read the full story at Washington Post