I spent close to the last ten years securitizing mortgage debt until about 2yrs ago. I've spelled out all my opinions based on my working knowledge of the industry in previous threads. Feel free to go back and read away.

But yes,.....that was a piece of the puzzle in no uncertain terms, although crudely put.

I should add that those loans extended to them were also designed to fail from the get go. It's not my opinion that because minorities couldn't pay their bills that the mortgage and housing industries crumbled.