60 day delinquent rates reached nearly 4% in the third quarter and are rising.

http://www.housingwire.com/2008/12/02/mortgage-delinquencies-set-to-soar-report/


TransUnion is forecasting the delinquent rate will rise to 7% in the 4th quarter of 2009.

These numbers are shocking. They may, unfortunately, be good for our business, but its hard to see how we are going to come out of a financial crisis with 7% of mortgage holders deliquent a year from now.