One of the states that was hit hardest by the housing crisis was California. Due to Mortgage borrowers taking advantage of the most innovative mortgage products. The Golden State, however, is not only different in the overall housing disaster, but California mortgage borrowers' exhibit distinctive actions not seen in the least in other US borrowers.

The graph below shows on a broader scale of what happens when California borrowers come into contact with sluggish voluntary payments and quicker involuntary prepayments contained by private-label housing mortgage-backed collateral (RMBS) versus borrowers in different parts of the country.

The harsh housing crisis in California, as a result, suffers in a high quantity of loans in the foreclosure pipeline. Therefore, the California foreclosure timeline has swiftly converged with the US foreclosure timeline.