The below has been circulating today around various Wall Street types, and I'm not at liberty to share the source. But enjoy the Steve Miller send-up, anyway:
This here's a story about Billy Joe and Bobbie Sue.
Two young borrowers with a FICO of 322.
They bought a house , with a section 42.
And here's what happened when they decided to cut loose.
They doubled down with a condo in.... old El Paso.
That's where they ran into a great big hassle.
Billy Joe lost he job managin a White Castle.
Bobby Sue took the Foreclosure and Run!
Go on... Take the Foreclosure and Run!
Billy Mack is a loan officer in Texas.
You know he always....lends out what the max is.
He ain't gonna let those two ...face Foreclosure.
He made a livin doin No Doc refinances.
Go on...Take the Foreclosure and Run!
Bobbie Sue, Whoa, She's now considered Alt A.
Billy Joe defaulted the very next day.
They just got a FHA mortgage, Hey.
You know they got it made.
They're headed down south to flip stuff on EBAY!
Singin... Go On...Take the Foreclosure and Run!