The vast majority of these loans are held by the US Government, so solvency risk from delinquencies is not the concern that it was in 2008 with privately held MBS.

Well, I’d say the solvency risk is from a significant number of people going bankrupt and still not being able to discharge the debt. I think you’re right it probably won’t be as dramatic but it won’t be great. Especially combined with the various other negative economic actions taking place.