I wonder if these analysts are the same analysts that were analyzing the lending industry when it had gone wild?
The curious slide in restructurings won’t last, according to Laurie Goodman, an analyst at Amherst Securities. In a note to investors, she says modifications on subprime loanshave risen steadily over last two years, from $5 billion in 2007 to $50 billion in 2008 and $39 billion in the first half of this year. The lull for the last two months is only temporary, she says, and “should increase more as servicers ramp up staff” to handle the president’s $75 billion Home Affordable Modification Program (HAMP) modifications “more efficiently.”
