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The Age of Scrutiny in Mortgage Finance
Mortgage companies that are doing well today are not the mortgage companies that were doing extraordinarily well in 2005. So that the system pushed risk take out of the financial services industry as we knew it 15 years ago. And, and one of the things that I don't truly think folks appreciate is how much risk in this cycle has been taken outside of the Federal Reserve system. This is a, this is a non bank gold rush, whether you're an asset manager, you know, a for profit lender.