Strategic Defaults Falling on Jumbo Mortgages, Relative to Smaller Loans: Moody's

""Our findings contradict conventional wisdom, which holds that richer borrowers are more likely than the average borrower to strategically default because of the relative size of their investment and their higher level of financial savvy," said Peter McNally, the analyst who authored the report. "The size of the loan does not appear to indicate the likelihood of a borrower walking away from an underwater mortgage.""