The newest agency’s underwriting studies, central to almost any decision so you’re able to straight back that loan, is intended to feel conventional Griffin’s paper discovered that twenty eight% of all financing checked had estimated earnings that have been 5% or higher higher than what the functions in reality won within their first 12 months. Some cases off underperformance was because of bad luck, the brand new report acknowledged, however, “like factors shall be apparently rare.” Yet , in the…