Ms. Smith, the spokeswoman for Fannie Mae, distinguished the program from loans of the boom years that "layered risk on top of risk".
Farming carnivores is inherently illogical from an ecological perspective and layering another risk factor upon BC's salmon with open net-pen aquaculture when our wild stocks are already under a suite of pressures makes no sense at all.
Indeed, most subprime mortgages written in the past three years were "risk-layered", using a combination of various inducements to make a mortgage more attractive to borrowers but also much riskier.The "FICO" credit scores on which mortgage lending often relies did not capture this risk layering.
Layering of risk means the borrowers courted by these lenders had multiple characteristics that would put them at high risk for default, including no down payment, no documentation of income or assets, low credit scores and second mortgage in lieu of a down payment.
When this scenario happens with a borrower who purchased the property as a short-term investment, based on the anticipation that the value would increase, the layering of risk is greatly multiplied.
Kim Jong-un's unpredictability adds a new layer of risk.
Climate is adding an additional layer of risk, and that risk is only increasing".
"Those that go against society's values are adding an extra layer of risk to their long-term business prospects".
A continued contraction may make it even tougher for consumers to pay off loans, especially credit card and auto debt, creating another layer of risk.
"You were allowed to have multiple layers of risk, and still get a mortgage," Mr. Gumbinger said, referring to what lenders consider as negatives, like low down payments or credit scores.
Once outside of the Goldman fishbowl, with its layers of risk management, Wall Street can become a lonely place for some of its most famous alumni.
