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"Flexible underwriting" means underwriting according to CRA's time-tested guidelines such as allowing "non traditional" credit instead of requiring that the applicant have four open trade lines; two with balances. Strong markets or weak markets, the program always allowed for a small down payment and weren't considered "subprime" when they did so.
How "time tested" could they be if they were put in place in the 90's during a boom and then zero interest rate policy afterward? Define "time tested".
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