Doc Products; Jumbo and Specialty Products Continue to Crumble; 3.74% Loans in Forbearance

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Posted To: Pipeline Press

Bill M. sent, “It’s not at all boring to stay in the house. But how come one bag of rice has 22,373 grains and the other bag 24,201?” Yes, things have changed. A pal wrote to me yesterday saying, “My sex life is like a Ferrari.” I reminded him that he doesn’t have a Ferrari. He replied, “Exactly.” We know that this is not 2008. This is not a bailout for an industry that has acted irresponsibly with far-fetched programs, questionable underwriting, or questionable securitization practices. Most companies were in much better shape heading into this coronavirus-driven downturn than they were twelve years ago. In the residential sector, lenders, big and small, continue managing capacity through paying for overtime, pricing, hiring temporary staff, adding…(read more)

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