I used $400K to be conservative. If I use your $200K figure, then the number of people affected by mortgage resets would double. That brings the number of borrowers hit with rate shock to 7.5 million. (Under my assumption, only 3.75 mil were affected.)
woodrow, I also like it better when I stick to the facts and leave assumptions out of it, lOL. The hardest part is getting all the facts that I need. The entire exotic loan data is secretive and/or difficult to get. I lay out all my assumptions, and thank you for bringing to my attention that I was way too conservative.
