I would agree with that. Expect the bank also lowered the required FICO score. 15 yeas ago you needed at least 610 score with a 15 to 25% deposit to buy a hous

I would agree with that. Expect the bank also lowered the required FICO score. 15 yeas ago you needed at least 610 score with a 15 to 25% deposit to buy a house. In 2006 you need a FICO score of 520 ad no deposit. You didn't even need job. The banks didn't do their job. They were making fortunes on fees and reselling the loans. BUT the government didn't do it's job either. The banks didn't exactly hide the fact they were doing this. I mean, every real estate agent knew it. I'm sure the various government agencies did too. But no one cared cause everyone was making money. Until the house came down. :)