WSJ: Is the mortgage market breaking again?

“Years ago, the fi­nan­cial cri­sis re­vealed the folly of churn­ing out “liar loans.” Reg­u­la­tors cracked down, and mort­gages made to­day are gen­er­ally more con­ser­v­a-tive. What reg­u­la­tors didn’t fo­cus on was the strength of the mort­gage com­pa­nies them­selves. Though the loans are stur­dier, the in­frastructure largely didn’t change.”