They originate that many per year. So that's $5.5B per year for 20+ years. At any given time, they should have income for 20+ years worth of originations, right? Obviously, this situation is more complicated since they couldn't pay.
They lent out much less in previous years, climbing from ~$15B in 2000 to a peak of around ~115B by 2011, and declining steadily since. This makes sense because private lenders controlled a healthy portion of the market before 2011.
