Repricing of Risk

I am getting tired of the talking heads that keep saying the market is undergoing "A repricing of Risk". Give me a break.

The market is selling off on banking fears, fear of liquidity drying up, homes dropping in value, and a possible economic recession...

..... Repricing of Risk.... Does this mean that if you are late on your mortgage payment you can tell your mortgage company that "I will pay you after I reprice my risk"