[sib]

"Put all of the consequences of being defrauded by a borrower onto the lender" - that seems a bit strange.

Imagine saying "put all of the consequences of getting robbed onto the bank, not the robber"

[lotsofpulp]

Who bears the consequences of their home being robbed? Or mugged on the street? Or a contractor taking payment for services and then disappearing?

Why are we subsidizing lenders’ by putting this ridiculous burden on people who have nothing to do with the lender’s business?

The lender can pay to appropriately verify their borrower’s identity, or go to court and sue for damages like everyone else has to.