Joseph N. Fried

Unlike other books pertaining to the financial crisis of 2007/8, the author presents a wide variety of factors — including some that originated in the governmental sector and others that originated in the private sector. The tone is conversational. The book includes several subjects that are almost completely ignored in the rest of the literature.

These subjects include the detrimental impact of automated underwriting systems that were heavily promoted by Fannie Mae and Freddie Mac. 

• Drive-by house appraisals. 
• The impact of hundreds of local housing programs funded by HUD, state governments, and housing advocacy groups.; 
• False delinquency statistics put forth by Fannie Mae and Freddie Mac.& 
• “Silent second;” and “piggyback;” loans.