That's just not how the market worked out during the sub-prime mortgage market. 5% prepayment penalties, Arms with massive rate hikes, neg Amortization loans th

That's just not how the market worked out during the sub-prime mortgage market. 5% prepayment penalties, Arms with massive rate hikes, neg Amortization loans that ate up your equity. no document loans, no income/asset loans. shopping appraisers to get the most inflated loan amount. all kinds of bull shit fees and higher interest rates for more bullshit compensation. The documents were not any smaller. Most of those documents are there to either make it easier for the lender or protect them in some way. Most people don't have phds in finance, legal, psychology to compete with the army of lawyers, accounts, quants, sales people, marketing people that all work day and night to take your money in the most favorable terms for them possible. Not to mention the boom and bust cycle that imploded the market in the first place. In the end we'd probably end up with some kind of marketplace similar to the app store with 30% fees.