It's a complicated question. Mercifully, I get to think about it all the time.
The 12% I gave you in terms of deferrals is for insured and uninsured mortgages, so it incorporates numbers that we publish and those from the Canadian Bankers Association. I wouldn't associate even half of that with losses or foreclosures. This is people dealing with uncertainty and conserving cash, just like they hoarded toilet paper, because they could and because banks were offering, and we were. Basically, if you said you were having a hard time, we said, “Take a deferral.”
That compassion is what has happened, and I have to give the banks credit. They've done that on uninsured mortgages, in addition to insured mortgages, and our two private competitors were lockstep with us: Canada Guaranty and Genworth Canada.
The impact is going to be that those mortgage-deferred payments are added to the principal outstanding, so it increases our indebtedness. That's one of the costs behind the numbers I gave you.