Washington Mutual Inc., the largest in the United States savings and credit, has a $ 3.3 billion in the second quarter, a loss on bad loans as a record number of borrowers unable to make the development of mortgage payments.

The loss of $ 6.58 a share, compared to a net profit of $ 830 million, or 92 cents per share, a year earlier, Seattle company said today in a statement. The cost of bad loans have jumped by 58 percent to 2.2 billion U.S. dollars in the first quarter.

Head led by Kerry Killinger, 59, grazed position of president last month, is an increasing pressure from investors after the stock fell more than 86 percent last year and his colleagues of Citigroup Inc. and Wachovia Corp. have been drawn. The company has to capital, the reduction of employees and reduced the size of the company prepared to increase the reserve for losses on loans by 69 percent to $ 5.9 billion.

“ UMOA is definitely put to the test here”, said Chris Armbruster, an analyst at Al Frank Asset Management in Laguna Beach, California, to 117000 shares in Washington Mutual end of March and managed 650 million U.S. dollars. “ You have many exhibition a disturbance to many things, but what we can say that they like you will be in a position to do so.”

UMOA fell 7 cents in extended negotiations, after a rise of up to 10 percent after the tax return. She won 34 cents to $ 5.82 early clock to 4 on the stock exchange in New York. The stock rose by 57 percent this year.

Expecting losses on loans

Provisions for losses rose to $ 5.9 billion $ 3.5 billion in the first quarter. Stephanie Hall, an analyst at Gradient Analytics, said they expect to order $ 9.6 billion in bad debts over the next 12 months.

Washington Mutual, known as the UMOA, the last of the six largest contributors to the United States to announce the quarterly figures. Wachovia, the fourth largest, said a loss of 8.9 billion U.S. dollars early today, reduced its dividend by 87 percent and has announced $ 2 billion cost reductions. $ Citigroup reported a loss of EUR 2.5 billion in the past, while JP Morgan Chase & Co., Bank of America Corp. and Wells Fargo & Co. reported, the profit declines.

Moody’s Investors Service has today said that its May opinion to reduce debt UMOA first place under mediation of quality. The lender May, “ significant quarterly losses until 2009, Moody’s”dit in a statement.

The home loan group lost 1.35 billion U.S. dollars, the company has 1.64 billion U.S. dollars in reserves. U.S. blocking deposits rose 53 percent in June of last year, with one in every 501 households in a given stage of the process, according to RealtyTrac Inc.

Foreclosures

UMOA has 3 billion U.S. dollars losses in the two quarters before that foreclosures rose to a record level. In California, home to half of their loans, one in every 192 households was one of the steps to block the last month, 2.6 times above the national average, according to RealtyTrac.

The world’s largest banks and brokerage firms have the loot to $ 462 billion and depreciation on loans, losses due to the decline in prices for houses and Mortgage-Backed Securities. The companies have the $ 345 billion, of which $ 12.1 billion per UMOA last year, according to the Bloomberg data.

Washington Mutual wants 1 billion dollars a year in savings sizes, as it back on the loans for housing. This contributes to improving “ pre-tax profit determination,’’said UMOA.

The lender has $ 175 million net loss in its credit card of the group after the cancellation of $ 911 million reserves.

TPG Investment Bank

Private equity firm TPG Inc., headed by David Bonderman, anchored $ 7 billion in cash to UMOA in April through the purchase of material for the stock is $ 8.75, 33% reduction in the time. Even after last week by 20 percent jump, the TPG investment by a third.

Washington Mutual, the sixth rated among the mortgage banks in the United States last year was the 11th largest subprime lender, according to trade within the publication of mortgage financing. UMOA had 13.9 billion U.S. dollars in subprime loans to its balance sheet at the end of June, a decrease of $ 15 billion in the previous year.

“ There are so many companies was in the low quality of the loans’’said Stephanie Hall, an analyst at Gradient Analytics, a research firm in Scottsdale, Arizona. The mortgages are “ higher risk compared to other large-capitalisation of banks.”