According to their claims Countrywide initiated the Hustle program, or HSSL which stands for High-Speed Swim Lane, in 2007 just as loan default rates were rising and Fannie and Freddie were tightening their loan purchasing requirements.
The goals of the Hustle, according to the suit, were high-speed and high-volume where loans “move forward, never backward” in the origination process. From the suit:
To accomplish these goals, the Hustle removed necessary quality control “toll gates” that could slow down the origination process. For example, the Hustle eliminated underwriters from loan production, even for many high-risk loans, such as stated income loans. Instead, the Hustle relied almost exclusively on unqualified and inexperienced clerks, called loan processors. Although loan processors had not been previously considered competent or knowledgeable enough to be permitted even to answer borrower questions, they were now required to perform critical underwriting duties.