[Phantom Lord]

The only safe lending guidelines which could have been used in those years would have taken into account the fact that real estate was in a classic speculative bubble, with the inevitable "pop" on the way. I'm not aware of anyone in the business at the time (perhaps you are?) who was willing to confront this.

HA! Try turning down someones loan application on the basis that "well, in a year or two I think your homes value is going to have dropped by 20 to 30% so I can not approve this 10% down loan."

See how fast you're sued and the regulators come in and shut you down.

[Notary Sojac]

It’s happening right now in the bubble states, I don’t see anyone being shut down because they are returning to conservative lending standards.