Question

The arrival of the Great Recession brought an unprecedented increase in home mortgage defaults despite years of efforts to create more sophisticated underwriting methods and standards. This can be attributed to:

Answer 1

This can be attributed to period of turmoil in the financial markets at the time of the Great depression.

What is Great Depression?

Great depression refers to the great economic turn down which was stated due to the fall in the market of the stock prices in the year 1929 and 1930. It was the economic depression.

Despite years of efforts to develop more sophisticated underwriting procedures and regulations, the coming of the Great Recession prompted an unprecedented rise in house mortgage defaults. This is explained by period of turmoil in the financial markets.

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