“The ratings agencies get a lot of blame, but even if the rating agencies transformed overnight and everyone had complete confidence in them, the problem is the global community has lost confidence in the quality of our data. We have to re-establish credibility in our appraisal process, the ability of our lending staff to verify income and assets; really, a rebuilding of underwriting fundamentals. Companies that have a true culture of quality will emerge as leaders, and will help bring back the secondary mortgage market.”

–Jess Lederman, senior vice president and chief credit officer, Kinecta Federal Credit Union

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