Exec: Problem likely to worsen in near term Guaranteed Asset Protection claims - and losses - are on the rise, and ballooning negative equity appears to be partially to blame. Losses on GAP coverage have spiked in the past couple of years after several years of restraint from lenders in the wake of the Great Recession, according to EFG Cos. In fact, losses have returned to around the historic peak in 2007 and 2008.
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