Levin questions the increase in incentives over time.
11/19/2014
https://www.congress.gov...
But you said you first became aware of fraud in 2008 and this shows significant fraud in 2007.
LBMC [Long Beach] experienced a dramatic increase in EPDs [early payment defaults] during the third quarter of 2005.
And did it find that Long Beach had weak controls over the loan approval process?
Extreme greed was the driving force, and it will happen again unless we change the rules.