If you want a subprime loan, you do not go to the bank. You go to a mortgage broker. The big one now is Rocket Mortgage, which used to be Quicken Loans. It does not even hit a bank.
The big one used to be Countrywide Financial. They would provide loans to anyone, repackage them, and sell them on. Bush thanked them personally for supporting his "ownership society." Mind you, Bush actually flew out to their headquarters to thank them personally. They promised investors that they resold all the loans, but as the mortgage business collapsed, the sale of the loans started getting slow, and they went out of business.
I have to ask where have you been, AssHat, that you still think banks are the main sources of mortgages? This is not the 1970's anymore.
