History repeating itself.
Who says they ever went away? What do you think HARP is?
Some lenders have the ability to lend under the HARP program to an UNLIMITED loan to value ratio. No matter how far the borrower is under water, if their address qualifies, they get the loan. This has been going on since 2009.
Not saying it’s right, just making the point that this is no big deal and should surprise no one.