Arrears remain below pre pandemic, page-2

I am still trying to get my head around this cubic moving crystal ball. What I mean by that is that whilst delinquent borrowers may increase they may have built up a fairly sizeable capital value buffer as the sales price may well and should have moved well ahead of what they paid. Essentially its how well HLI actively engage with the parties to get them out and a bit of remaining capital in their pockets rather that the underpayments eating up the gap. Or am I missing something? We may have a much smaller business but the reserves held for claims may well be very much over what is needed...