I meant to say “negative amortization income”, which is income booked but not received from option ARM loans. I’m wondering how much of those unpaid interest payments will ever be made; you’ve got option ARM borrowers making the minimum, partial-interest payment. Once the loan resets, not only will they have to pay the higher loan balance (original mortgage + unpaid interest tacked onto the mortgage) over the shorter amortized period, i.e. 27 years if it was a 3/1 ARM, they’ll also face a higher interest rate. I think most of those option ARM borrowers will default. WaMu’s losses will become apparent sometime in 2007 or 2008.