This has resulted in a huge number of foreclosures on homes, far above the national average.
That's not it. That policy may have resulted in some foreclosures, but the problem started before PWC enacted it.
I believe, when this all shakes out, it will come out that what happened in PWC was the result of mortgage fraud. The FBI states that Virginia is in the top 10 states for mortgage fraud, and furthermore that mortgage fraud and foreclosures are closely related. (What a surprise...)
