What a Difference a Month Makes

June 2020

We entered May 2020 cautiously optimistic, albeit with a fair amount of trepidation. We had closed ~$200MM in loan sales for 15 banks since the Covid-19 shutdown, and were well beyond the panic public market credit selling of late March and early April. Further, secondary market credit investor portfolios held up better than expected, giving them staying power, and confidence to continue to bid and purchase bank loans and portfolios.

However, we remained mid-shutdown in many parts of the country, with looming uncertainty as to the economic impact on businesses, consumers and asset values. Loan pricing meetings turned into long virtual discussions around “what-ifs” and variables that would have been unthinkable 90 days ago.

So here we are, June already, and with another $150MM in loan sales closed, we can share the following observations:

Contact Us

More Insights