I always wondered if it were possible for these prime lenders (loan wholesalers like fanny freddie) to have somehow sold fictitious homes to imaginary people who then "defaulted and got foreclosed on", after several sales the equity would start coming in, meanwhile they just rent them out through a big property management company....hmmmmm
nah ! ! they'd never get away with it somebody woulda blown the whistle by now [/tin foil hat]