SEATTLE — Washington Mutual Inc. secured $7 billion in new capital yesterday, aimed at reviving the company despite ballooning loan losses. But it may also push the company to rethink its strategy, slim down and revamp its management.

The country's largest savings and loan has been badly hurt by rising delinquencies and defaults on mortgages. Efforts last year to rehabilitate its finances fell short despite management's assurances that slashing its dividend, raising nearly $3 billion in a stock sale and leaving the subprime mortgage business would be sufficient.

Washington Mutual said it will get the new capital from an investment group led by private equity group TPG, but will cut its dividend again and post a wider loss.

Separately, the thrift said it will get out of the wholesale lending business, close all remaining standalone home loan centers and lay off about 3,000 workers.

"I think it's enough capital to get them all the way through," said D.A. Davidson & Co. analyst Jim Bradshaw.