RE:RE:RE:RE:RE:This is a pisssofff.Loans are the responsibility of Banks, not the borrower. The reason banks knowing gave loans to unqualified borrowers was becaue they had no intention of keeping the loans to maturity. They bundled subprime loans into mortgaged backed securities, got a dishonest safe rating on them, then sold the over rated securities to unsuspecting retirement funds. "
- Credit rating agencies came under scrutiny following the mortgage crisis for giving investment-grade, "money safe" ratings to securitized mortgages (in the form of securities known as mortgage-backed securities (MBS) and collateralized debt obligations (CDO)) based on "non-prime"—subprime or Alt-A—mortgages loans."