[CodeToad]

I bet the scam is that the bank gets some type of down payment and that they know the illegal will default, giving the bank the extra cash.

[clawrence3]

I believe the Wells Fargo program was offering no down payment, interest-only loans.

[Antonello]

I bet the scam is that the bank gets some type of down payment and that they know the illegal will default, giving the bank the extra cash.

As far as the bank is concerned, their only 'scam' is to accept a third party's financial guarantee that if the loan goes bad they'll still get their money back.