So what will all the broken pipes do to lending in Texas
So I hear everyone talking about the coming fire sale in real estate from non payment of rents, but with this new winter disaster that has taken Texas literally by storm, does anyone see major changes in lenders underwriting? WIll this trigger massive selloff in Texas?
I am sure that we are just seeing the beginning of the thaw which will bring 100's of broken pipe claims. This is really unfortunate. We have seen Covid underwriting guidelines change lending this last year is this winter storm the next thing to add to the lending underwriters nightmare?
I am hearing from my mortgage friends that guidelines are being changed on underwriting by the hour as this disaster unfolds. Does anyone have experience with how natural disasters have shaped lending policies?