Carl Levin actually said...

And when WaMu qualified a borrower for an Option ARM loan, did the bank use the payment that the borrower would have to make at a recast or ...

Now, there was a big appetite for residential mortgages on Wall Street until September 2007, is that true?

Why weren't securitizations halted in 2005, 2006, and 2007 when similar underwriting problems were uncovered?

But by 2005, the problems started erupting again with a surge of early payment defaults.