As we said, it certainly surprised the market. It surprised us. To the extent that the system is involved in securitization, yes, it puts us on a back foot.
We have probably about north of 40 issuers in the country. We have about 283 credit unions overall. It's predominantly some of the big ones that have had to deal with this, that are involved. On the one side you have a bunch of restrictions on what you can portfolio insure now. When you portfolio insure, that's what you do when you go in to securitize. That's reduced the ability to release the availability of mortgages that could be put through that pipe.
But also, you just reduced the whole pool of higher-ratio mortgages that could be securitizing. Institutions are competing for those high-ratio mortgages because they know they can securitize them. It's perverse in a way because you're getting competition for the higher-ratio mortgages going on, when more conventional mortgages that are now outside that pool might be higher quality in real life.
I'll just leave it at that.