[brettpeerstreet]

Great points, that's why conservative underwriting and low LTV (loan to value) ratios matter so much. Look at PeerStreet deals, they are 75% LTV and under with a site wide average of 63% LTV. Every deal that goes up is stress tested against the last 20yrs of data in the sub market, then projected against the term of the loan and that's posted with each deal that goes up. But you are absolutely right that these things matter. In 2008, the banks were loaning at 100% LTV, that means the borrower has no skin in the game. And then lenders had guaranteed take outs of their loans. Those are some of the of the big reasons so much went wrong.PeerStreet is trying to take as many learnings from the securitization market as possible, both positive and negative and factor them in.