Yep, part of the loan book they acquired that they were servicing. Very clear in the article. But where do you see that JPM paid 250B?
The entire loan portfolio on apartment buildings at that time for ALL banks was ~250B. Not just WaMu, all banks.
JPM was not previously participating in those types of loans at that time.
So not sure where you see JPM paying 250B, maybe you could provide a link as I'm sure we would all like to see that JPM actually paid for something unless you mean "assumed" a $250B portfolio that also included apartment loans... which I think would not be an accurate for a total number.
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