Pimp that loan U.S. style
There was a regime change, January 2014, at the Federal Housing Finance Agency where Ed DeMarco (higher credit scores required for Fannie & Freddie insurance) was replaced with Mel Watt (reduce F&F requirements) that will keep the tax payer goosing itself in the housing market.
Apparently the housing "recovery" isn't. The mortgage lobby loves credit risk when the co-signer is the tax payer. The chart mashup:
"It's Hard Out Here for a Pimp"
History, Charts & Curated Readings
"Progress, far from consisting in change, depends on retentiveness. When change is absolute there remains no being to improve and no direction is set for possible improvement; and when experience is not retained, as among savages, infancy is perpetual. Those who cannot remember the past are condemned to repeat it." George Santayana Vol. I, Reason in Common Sense
"History, real solemn history, I cannot be interested in.... I read it a little as a duty; but it tells me nothing that does not either vex or weary me. The quarrels of popes and kings, with wars and pestilences in every page; the men all so good for nothing, and hardly any women at all - it is very tiresome." Jane Austen spoken by Catherine Morland in 'Northanger Abbey'