[Michael I]

Some big name funders have yet to come back online... I doubt they will say "we're done" until they recoup as much of their portfolio as they can. Anyone who's been around knows the rampage of portfolio information being sold when CAN took a break back in 16-17 or when 1st Global went under. People are waiting to pillage those leads.

And yeah, you can make money in bear and bulls, so I believe you did make money on your syndications... but, I'm sure they were much cleaner type of deals!

has nothing to do with cleaner or not (proof is on deck) if you were running a high risk shop with a 1.35 buy rate and having a 5% default rate flipping the money 3- 4 times a year . than you will still be profitable even if all the money you had out during covid does not return.(based on fees)
If you were running a 15-20% default rate before covid you were making some money and scraping by but chances are now you way in the hole and either need to find a new sucker to invest their money or say bye bye