Moneylenders receive comeuppance

A number of news sites are reporting on the rising incidence of late mortgage payments, as increasing interest rates push monthly mortgage payments higher. You can tell the language was crafted by the Mortgage Bankers Association:

Lenders to subprime borrowers — people with blemished credit histories — have been battered. Rising interest rates and weak home prices have made it increasingly difficult for these borrowers — especially those with adjustable-rate mortgages — to keep up with their mortgage payments. Delinquencies and foreclosures in the subprime mortgage market are spiking.

Battered is a term to use for women who are victims of domestic violence, not lenders who get their comeuppance when their poorest clients can't make payments. Especially not when these lenders crafted the adjustable rate mortgage to make more interest in the first place.