Mr Cooper Group Inc (COOP)

[PTiHubber]

ChatGPT says this:

"When JPMorgan Chase acquired Washington Mutual's banking operations in 2008, it did not acquire the physical headquarters itself. However, as part of the acquisition, JPMorgan Chase gained control over various assets and liabilities of Washington Mutual, including certain real estate holdings. This likely included leases, properties, and other assets related to Washington Mutual's operations, but not necessarily the physical headquarters building.

After the acquisition, JPMorgan Chase would have had the authority to make decisions regarding the disposition of assets acquired from Washington Mutual, including any real estate holdings. This could have included selling properties, terminating leases, or making other strategic decisions to optimize its newly acquired assets.

So, while JPMorgan Chase did not acquire the Washington Mutual Headquarters directly in the transaction, it likely gained control over certain assets that allowed it to make decisions regarding the sale or management of properties previously owned by Washington Mutual, including its headquarters."

........so, my understanding here, is that, even though JPM didn't acquire it directly and physically, they were given authorization to do with it what they pleased. Looks like another situation where an entity is allowed to sell that which it does not own. I hope this is not the case. (I don't put all my stock in ChatGPT, either. I just wanted to share what I found there.) GLTA

PTi