I know someone who ranted to me DAILY about the liar/NINJA loans and the effects those were having on the entire banking industry.
A former friend of mine ( I’ll spare you the long story) got one of those easy loans. She lost her house to foreclosure about 5 years in. She had inherited enough for a large down payment and the bank reluctantly agreed to the mortgage. She was a flake (got hooked on pain killers after she bought the house) and lost the house, her job and her kid.
Clinton made it so almost anyone could get a mortgage. I saw up close how stupid is was to give idiots mortgage loans.
I told her to sell her house before she lost it (when her baby daddy left the household taking his income with him), and she just kept getting weirder on pain killers and lost everything, even her cushy DOT gov’t job.
Prescription pain pills changed her radically. I knew her 40 years, yet had to break off the friendship because of her wild personality change.