Phoenix,AZ-22.5% 2009-8-2613 2 •ThevalueofU.S.subprimemortgageswasestimatedat $1.3trillionasofMarch2007 –Howsevereissubprimemess?-Realestate-MSNBC(2008). •Over7.5millionsubprimemortgagesoutstanding. –FRB:Speech,Bernanke--TheSubprimeMortgageMarket--May17,2007 •Approximately16%ofsubprimeloanswith...