Does this sound familiar; the owner of a subprime lender delays filing its quarterly results with regulators? This time it is Option One Mortgage Corp. Its owners H&R Block Inc, need more time as it writes off assets. Rising defaults has forced the company to re-evalue its balance sheet. The stock fell 43 cents, or 2.1 percent, to $19.62. Sounds a lot like New Century, the subprime lender that went bust earlier this week.

GMAC's Residential Capital is also adding to the sense of panic in the subprime mortgage sector. The company said it has "struggled with a slower pace of loan originations and a further erosion in its subprime business."

Meanwhile, the mortgage lender implode-O-Meter is still rising. Since December, 36 subprime mortgage lenders have gone to the wall.

Also, check out America's top ten foreclosure markets.