Fact-Sub prime lending constitutes about 6% of the overall mortgage lending. Since you are in that business, tell us what % of this 6% are actually turning into non performing assets? It is necessary to know this number in order to put this problem into context.
The industry averages over the last 20 years have been between 1.5 and 2%. That has grown anywhere from 4 to 6% with some investors seeing as high as 8%