A Tsunami of "Something" is coming
Read this.
Without gov't intervention things are going to get messy in the not so distant future.
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I'm not too worried about this yet. The data is so muddled with banks that pre-emptively signed up their entire portfolio for forbearance assistance whether or not they needed it that's included in this data. Specifically for TX, we have not been hit nearly as hard and all of the agencies are taking a common sense approach to work this mess out.
One key difference to '08 is that this wasn't a borrowers fault (other than not having plenty of reserves). This was a government mandated shut down and the government and agencies are going to make policies to reflect that to try to protect homeowners.