It's been more than 20 years since quality-control requirements were implemented in mortgage lending, and the attention paid to those requirements is the same today as it was two decades ago-as weak as a housing market that has been in free fall for what feels like forever.rnThat indifference is precisely why the industry finds itself in the bind it's in now, said Becky Walzak, president of walzak Risk Analysis, who has seen millions of people plummet from owning their own homes to owing so much money that every road leads to foreclosure.
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