JPMorgan builds up apartment-loan leader from WaMu rubble

In September 2008, JPMorgan Chase & Co executives sifted through the rubble of Washington Mutual, the failed home loan bank that they had just won in a U.S. government auction. "It was an unexpected bonus," JPMorgan Chief Executive Jamie Dimon told Reuters in an interview, adding that the apartment lending business is the single most valuable asset that JPMorgan acquired in the auction. Washington Mutual's apartment lending business was the biggest of its kind in the United States and Dimon has made it even bigger.

JPMorgan builds up apartment-loan leader from WaMu rubble source: http://finance.yahoo.com/news/jpmorgan-builds-apartment-loan-leader-050419378.html