Assuming that the 100 liar loans they looked at were representative (and that could easily not be the case):
One third of loans are liar loans, and sixty percent overstated their income by 50% or more. So that’s 20% of all loans involve an overstatement of income by 50% or more.
That’s crazy scary.
Not an in-depth analysis I’ve just provided, to be sure. But I think that sums it up.
