The case of Ms. Mairone is a demonstration of unethical behavior. This is because it had numerous implications both to the investors and the borrowers. Its ultimate result was a destruction of investor capital. It also led to the destruction of the livelihood of the borrowers who had been overleveraged in the mortgage deals. Ms. Mairone is believed to have overseen the selling of mortgage loans to individuals who could not afford such mortgages (Christina & Aruna. , 2016) . Usually, there is the process of risk assessment before any financial institution advance a loan to an individual. This is done using the FICO score. An individual who scores highly in the FICO score is deemed a responsible borrower. However, in the case of the housing crisis, the assessment of the borrowers was largely disregarded (DesJardins & McCall, 2014) .
In this period of mortgages, brokers were paid according to the quantity of the mortgages and not the quality. These brokers did not care whether a borrower was engaging in a well thought transaction. Instead, they proceeded and were paid for fronting as many mortgages as they could. Once the deal was completed, they would never meet the borrower again. Ms. Mairone helped form the mortgage approval program at countrywide. This program is believed to have not cared about the credit-worthiness of the borrowers. She was the chief operating officer of the Hustle program. This program is believed to have overlooked the prerequisite quality checks on the mortgages presented to them. The motivation was to increase the quantity of loans. This was unethical on the part of Ms. Mairone. It is by extension a loss of ethical values on the part of Countryside executive to have pressured her to deliver on the mortgages. She confesses that she was under intense pressure to prove herself to the company (Christina & Aruna. , 2016) . According to Aruna &Josh (2017), Mood’s Corp also did exactly the same thing Countryside did. They failed to critically analyze the mortgages presented to them and thus leading to great losses.
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References
Aruna, V., & Josh. , B. (2017). Moody's Agrees to Settle Financial Crisis-Era Claims for $864 Million; Ratings firm says at times it deviated from methodologies to rate mortgage bonds. Wall Street Journal .
Christina, R., & Aruna. , V. (2016). Villain or Victim? The Problem With Assigning Blame for the Financial Crisis; Former Countrywide executive Rebecca Mairone's fall and rise highlights the struggle to prosecute individuals over the housing bubble. Wall Street Journal .
DesJardins, J. R., & McCall, J. J. (2014). Contemporary Issues in Business Ethics. New york: Cengage Learning.
