After comparing the performance of a maquiladora-using firm with that of a control sample, the authors found no evidence of net gain in the use of a maquiladora.
Flagstar argued that Walzak was a management consultant withno underwriting experience and only three of the 126 defaulted mortgages in the sample actually had material breaches.
In August 2012, results indicated that uncertainty was rampant with about one third of the sample more optimistic, another third less optimistic, and the final third no change (see Figure 1).