[cutemonster]

Or you incentivice the lender to do better due diligence, and you weed out the less competent lenders?

Maybe it's a bit of both

[singleshot_]

I could not possibly disagree. But in a world with fewer lenders who have more rigorous qualification practices, are we paying lower rates? Kinda seems like no but we are now in the land of fourth order effects so who is to say.