UBS: Nearly $1 trillion in mortgage debt could be delinquent this year as a 'prolonged credit crunch' looms

· *The late-March spike in unemployment stands to drive more than $1.1 trillion in debt delinquency across credit card, mortgage, and auto loans, UBS strategists said Monday.*
· *The bank's consumer credit health gauge hit its worst reading since late 2009 in the first quarter due to the jump in joblessness and weakening...