This whole deal is to enable them to find another sucker to buy their snake oil, that sucker is you and me.
I impress again, the responsible party is our elected officials. They said to give credit to anything that can breath. They wrote the definitions of ARMS: interest-only adjustable-rate mortgage (just stop and consider for a minute what that means to the economy), also the NINJA: no income, no job, and no assets. These are real banking terms. All to fill a need brought about and brought to you by YOUR US Congress aka: your elected officials. The only way these can work is that the buyer can sell to someone for more than he paid. That is a pyrimad scheme. Provided by the US government, your elected officials.
I impress again, if your elected official supported this spending, ask them to resign.