Those are higher-risk products. That is November 2007.
I am sure it is, but were you aware of it? That is my question.
Are my numbers accurate?
And that was your responsibility to make sure that the securities which went out to the investors were following notice ...
Do you remember saying that we should think seriously about getting rid of these Option ARMs?
You executed on a bunch of high-risk products.
Were you aware, first, Mr. Rotella, that WaMu employees were cutting corners and even engaging in fraud to meet volume d...
Look, Mr. Beck, those emails talk about delinquencies, delinquencies, delinquencies.
Were they notified that there was a billion-and-a-half dollars in loans that were selected because they were Option ARMs...
Would selling those mortgages for that reason trouble you without disclosing that to investors?
A lack of controls for fraud, according to this report--this is your own internal report--has existed for some time.
You did execute on it for about a year, a year and a half.
Thank you very much, Senator Coburn.
You have an obligation to tell your purchasers as an underwriter complete and truthful information.
Did that surprise you? Did that trouble you, that suddenly delinquencies hit very hard?
You say you adopted this shift to high-risk strategy in 2004 and 2005. Is that correct?
Did they know, were they informed that loans with those or some of those characteristics had a greater propensity toward...
The reason that Option ARM loans were selected is because they were most likely to go delinquent.
