Who was the person or persons that changed the mortgage regulations that opened up the giving credit to anyone

Question

Who was the person or persons that changed the mortgage regulations that opened up the giving credit to anyone

Answer 1

The lenders did this many years ago as it was the investors who actually approved the actions by continuing to invest their money in CMO's as the returns were good and generally considered to have little risk. And the more the preformed the worse it got until the people who truly had no business owning a home started this foreclosure mess. At that point in time the foreclosure were at .03% of all loans and acceptable to the investors and now it is .9% of all homes and the media has made the circus even more of  acircus as that is all you hear about with respect to the mortgage industry