1. What are three characteristics of a Prime/Conventional/Truly Qualified, Primary Residential Real Estate Loan? In other words, what was required for these loans to qualify the correct way?

2. What is a Subprime Mortgage?

3. Give a scenario where someone wasnt even in the market to buy a house, suddenly became a house owner. How did this happen?

4. Who was buying houses in the late 1990s through 2007? Give three examples.

5. What is a Predatory Loan?

6. What is CRA? Explain.

7. What is NINA? Explain.

8. What percent of Subprime loans were being approved via Automated Loan Approvals in 2007?

9. Explain Malignant Neglect.

10. What is TARP? Did every bank need it? What happened if a bank refused funds from this? Explain.

11. What is the earliest missed payment by some borrowers/homeowners?

12. Historically, banks required Verified Income. What is this, and what are two examples of it?

13. What is Stated Income? What did it lead to?

14. What is a Single Pay, Interest Only Loan? Give an example of scenario when this would be done? What purpose did it serve? Explain.

15. What kind of ratings were given on CDOs and MBSs from the Big Three rating agencies? What did these ratings indicate? Were they correct?

16. What happened to some of the largest United States investment banks during this time?

17. What happened to bank regulations after the housing fiasco?

18. What happened to the Stock Market immediately after the housing bust? What about a year later?

19. Would you agree with the following statement?: It was common for a single household to have as many as 14 credit cards in the early 2000s. Explain.