Housing market slump?

[WRXtranceformed]

Exactly. That's what people were doing, buying a house they couldn't afford based on a sketchy loan program. Most of the shady lenders that were offering the shadiest programs are now out of business or will be shortly. Pretty much every lender had some kind of subprime programs they offered, but they were way too risky to both the lender and the customer so they're gone now across the board.