They're going to target $1b a year to start. I don't know who's left at Pru but they used to have a really great team of people - of course all of them may have left when they shuttered the storefront a few years ago.
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After the fact, I'm realizing this is kind of old news, but I'm a little behind sometimes, and the fact that everyone got to enjoy that picture brings me great joy.
Pretty much all of the senior guys that oversaw the conduit program are still there. Most of the layoffs were lower and mid level originators. Isn't that always the case?
Add another program to the mix...just what everyone needs, 25+ conduit programs for a market that can only support 10.
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