Detecting Accounting Fraud 1st Edition by Cecil Jackson

Exercise 41

Which one of the following statements does not describe the transformation in Countrywide's reported loan portfolio? (a) In 2004, conventional conforming loans dropped to 38.2 percent.
(b) Subprime loans increased from 2004 to 2006.
(c) By 2006, 31.9% percent of Countrywide's loan originations were conforming.
(d) By 2006, 10.2 percent of Countrywide's loans were home equity loans.