Steve and Jennie got a stated income loan in 2008 from QXQ. As it turns out, they lied on their application and said they made more money than they actually do and just a couple of months later they couldn't make their payments and defaulted on their mortgage. Who or what is at fault?
a. Steve and Jennie
b. Securitization
c. Management fraud
d. QXQ, the mortgage company
d
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