WaMu Seeks to Become a Player in B&C Underwriting Not content with being one of the subprime market’s top originators, Washington Mutual wants to become a major player in the securities underwriting arena. Why develop an in-house unit to market its mortgage securities rather than rely on investment banks? “They have a lot of clients they have to focus on,” said Todd Kaufman, national sales director and managing director of the newly formed WaMu Capital