Not to mention a racist if one were to raise flags about risky lending to poorly qualifying potential home buyers. I distinctly recall, in 2006-2007, numerous news stories about how the lending practices of banks were racist based on a data-driven analysis of skin color as a factor when adjusting for credit scores. Rep. Clyburn (D-SC) was all over it and faster than Jessie Jackson at a corporate shakedown.
If you look back, the warning signs were all over the place. I live in a non bubble area, but there was still some hanky panky going one here. A friend trying to sell his house in 2004 was warned by a Realtor to take the "funny" bid. It was one of those American dream loans were the potential minority purchaser didn't have a down payment and temporarily borrowed the money from the seller for closing costs. Those types of feel good programs ended up hurting a lot more people than it helped..