Mexicans did get lots of mortgages, but that was the program sir. It was allowed under Fannie Mae.
Loan officers did not set those guidelines.
What you fail to understand is that if a customer qualified for the loans that the FED GOV and Fannie Mae endorsed, you were legally obligated to provide it or you could be sued for discrimination in lending.
The GOV is the problem...
Government was indeed a problem but so was the mortgage industry. What to do when you take on to much risk? Package it and sell it to CDS specialists like AIG. Then when AIG fails to pay up on insured risk, steal the money from taxpayers. Rinse and repeat.