Attempts to Improve Federal Regulation of the Mortgage Industry Occurred

Attempts to improve federal regulation of the mortgage industry occurred because ________.

A) private lending institutions' lax loan requirements led to high default rates
B) federal subsidies were no longer working to adequately bolster home ownership rates
C) taxpayer-funded mortgage subsidies were criticized for benefiting the 1 percent of citizens who pay the most taxes
D) home ownership rates are lower in the United States than in Europe
E) too many borrowers were choosing to work with private lenders instead of the FHA