Wow, these numbers are just increasing. I don't think these projections includes much higher mortgage rates due to inflation caused by the Fed printing money.
Read it allFuture delinquencies on the Fannie and Freddie books could reach between $408 billion in the base scenario analysts laid out and $464 billion in the stressed scenario. Also, analysts estimate that 76% of currently delinquent loans would eventually default with a 45% loss severity rate. Of these defaulting loans, 60% would qualify for a modification, and nearly half of the rest would redefault after the workout.