Thanks, affects let's and COVID Jeff. the and talk and about it Alright, what doing. coronavirus we're how
raised making first exceptions across we income, people any higher payment score programs a stopped higher We wanted most we We did, to think things I tightened the of any and the in much board. we of did, One our the pretty income. is credit.
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of have plenty handle we lines warehouse to volume. room terms Jeff lines, of mentioned those in as on And that
we the essential qualify In do terms as workforce, of an industry.
could to on, work from of sensed the very I home. who early work beginning, March, of from have we However, sort think sent home middle we everyone
So that happened then.
people from have also ability We and home work as all the well. the to home send collections
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the effects to of looked what To million. out, exactly within $XX.X be. portfolio In lot and terms knows pointed one as is $X.X Jeff fair of expected a the at The losses, on the loss legacy how fair, extent of loss no is million. We value department. the risk long different is our things be going
over Again, midst forward, next So, we XX X have estimates goes time will be But what cautious. of idea. no as the to the we're reason think better happen of in to not months. a to the are it, going is those since there's we
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takes, it longer could Now change. the that number
of going Also, if our much folks industry, in and restaurant most our probably we the waitresses programs. our work don't terms through that pick and speaking titles of and sort don't waiters we've where qualify been for such you have generally job and exposure
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at XXXX titles But we Construction different is most it. and and job it of there compare think, time So, speaking, be financed in was workers time. it related that to or stopped. generally shouldn't were spent on this who to we've be just when okay. industry hit you some the business if look ways should a loads case construction our of that construction were folks businesses, in when dramatic industry That the
we're those optimistic helps getting too. certainly checks certainly so, and And
terms going And to aren't of is as as we run on repos going The normally business -- and effectively we're the repos, can. try lot our answer as there we in and as can of moving a easy on.
of legal slow of things But repos. guidelines. following continue, those either. the will things the part, business and none things of repos, backend working questions, continue. auctions, Obviously like dramatically. trustees, bankruptcies collections in do in all those them not So even a states, are We're lot the the terms many we're But of you like originations the doing can't
and at things What overall. stacked Again, affected lots somewhat, out there'll bit, the not timeline is repossessed are affect it stretch cars really we So us up cars little a open with we the we'll those dramatically. would auctions. that'll we business of but slow be the to if expect the of when won't auctions backend -- again, be one probably of sure used we the hope
hit would get go we terms of reserves those the we auction. So quarter. we taken this a of to And and once expect numbers value liquidation the built recoveries into a we've lot are in the again,
Wall Street, looking -- the warehouse expires them And year. of of are only at this at lines. X-year None lines of our of them one full, are Jeff out expires pointed as half end lines all our
lines ours ours in bad learned Having we're expire very lines We a bad now be are a Having from would don’t. strong the your XXXX. a position. be very thing, thing, So not. a right about probably would lot very full
though of do to at used And is we securitizations quarter. our interesting the end a
So securitization a at would've to we we and January off would trying securitization more price to do been not our and good have By to to been March quarter, we us very one get position a easily. in doing the much and problem beginning of this the at of get able securitization in were put done. end weather able a
that the we're liquidity fact We even Jeff backwards, room. timely capital As with government and a out, more issue, check gives more that of an even government but let really send million. decided to weren't us going to a $XX very us us Again, pointed use the runway. in NOLs have our from of the out, influx gives coming
need So we the as at running run reduced and are for as think the we with lines volumes we can to. long
it in a we doing to do probably securitization. both market do we of subprime. Santander market, is wait could longer in but looks we are and At would the the deals week Both we're as this now if are could just long to one we the to, in what probably those I GMAC April, in and be point depending Santander position beginning where of normally or on deals. that a like, securitization probably, wait probably, target investment grade above. we needed but would as do because like would Currently normal July this July the we our mean
normal So would in to normally B. sell sell situation. double would down B down We a this or we double like a B single probably
above get that will the is sold market next being all already in fact B month and or well the probably triple the bodes there so. So that
Again, I works we us important is So think timing the super for there. liquidity right think now.
buy. we currently I lot what staying manage we're going to have of problem. with a people think home. not to a going don't we're cars all So buying There's people
of sort I the whole So think out. dovetails thing
The benefits the a of is checks some a of thing. great $X,XXX the are, is our great Again customers $XX million hugely liquidity all thing. of to
things, So thing. though, not even we got overall a this the perfect is lot of good
at where looking this interesting. of gets is terms industry, it In more the
isn't the but we and likely talking think very recession I ever arrive. you that isn't happen, how thought probably we have had this were would about it
be said few We had of that on on bill. that recession lots probably We've the originate industry. would years fill a the effect layoff companies will interesting interesting a see industry, have the Lots this slowing multiple other layoffs, very ceased competitors effect overall an in already the to of heard have -- have are down. companies for already. to companies It'll
everything. I but of see the it'll think long think don't Now any we'll it'll have industry for it competitors. the that have who something I longer is this know, be so would lot I we're And are the we news beneficial as to But good we'll be of, how hanging affects people all is knows, a the sort it here lasts, haul, the you for who friendly those But the around. see. again, more to that issues, in needed, of probably end our be painful think
most questions. of covered and now I it open the we've will Hopefully topics for
