When the Ameridream type stuff was eliminated, I think some companies decided to just outright fake documents to get loans done (cut-and-paste on the copy machine, etc...)
maybe so but I think the lenders that entered FHA had no clue what they were doing.
I worked for one one time, fired an underwriter. She never signed off on a MCCAW (don’t ask, its an FHA required doc from lender that has to be signed by underwriter) for two months. That meant they had two months of FHA loans suspended by HUD they had to clear before HUD would insure them. they had no FHA expertise at all.