Mark Greene CEO of Fair Isaac and now renamed FICO (yes, they renamed the company FICO) was a guest on Squawk Box this morning.
His candor was refreshing compared to that of the normal shills CNBC puts in front of us on housing. The key takeaway form the interview is that the foreclosure crisis is going to intensify over the next 18 months, as the chart I've added below demonstrates.
"Before we do the credit cards, we are actually not done with the mortgage [crisis] - the worst of that is yet to come in fact. The thing about mortgages is you can predict when they are going to reset and you can sort of see what is coming. We easily have another 12 to 18 months of pretty ugly times in terms of mortgage resetting. ... Credit cards are next."
