11/07/2011
https://www.congress.gov...
"Now, according to this memo, the push to increase loan volume made things worse."
"And did it find that Long Beach had weak controls over the loan approval process?"
"LBMC [Long Beach] experienced a dramatic increase in EPDs [early payment defaults] during the third quarter of 2005."
"Is it fair to say that WaMu was not particularly worried about the risk associated with Long Beach subprime mortgages because it sold those loans and passed the risk on to investors?"