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SBA PPP, Processing Products; Ginnie's Issuer Assistance; Banks' Stress Test Changes; Forbearance Policies

Posted To: Pipeline Press

It was a rough weekend. The still in our basement blew up, throwing potatoes everywhere and setting us back weeks. That happened just as I was sending someone an email how bank balance sheets can hold only so much jumbo residential production, and if there isn’t a lot of non-Agency MBS demand, and if the Fed is the only buyer of Agency MBS, well, it’s not a good situation. Seriously, it was a bad weekend with continued coronavirus deaths as well as tornado and storm deaths throughout much of the South. Yes, there are large and small shifts going on everywhere, and not only people needing a larger recycling trash can. Retail malls have declined in popularity over the years. With people learning they can work from home; do we need all this commercial space and pay all that rent? Thank…(read more)

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