My father was a mortgage broker back in the 90s, so I had a chance to see hundreds of deals done - and there was zero "trust/faith" when it came to credit. Eve

My father was a mortgage broker back in the 90s, so I had a chance to see hundreds of deals done - and there was zero "trust/faith" when it came to credit. Everything requires collateral, and the presumption, going in, is that the borrower is going to default, and you will need to seize the collateral in order to make good. Even in 2007/2008, there was a weird twisted logic that suggested that because, historically, the market for real-estate doesn't all go down at once, that the collateralized debt obligations were credit worthy on the basis of the their underlying assets. That logic, of course, turned out to be based on false premises - but not because the bankers had any trust/faith in the borrowers.