Saddled with expensive lending platforms, mortgage-writers were desperate for a new source of revenues.They found two: riskier borrowers and riskier products.

• 放贷成本增加使得房贷公司不堪重负，它们急切地挖掘新的收入来源，并且找到了两个：信用更差的借款人和风险更高的借贷产品。