Numerous CDOs were backed by subprime mortgages. In the 2000s some financial institutions considered black communities as suitable for subprime mortgages. Long Beach had specialized in providing subprime mortgages. This run became known as the subprime mortgage crisis. HELOC abuse is often cited as one cause of the subprime mortgage crisis. It was one of the financial events among many in the subprime mortgage crisis. In 2008, Lehman faced an unprecedented loss to the continuing subprime mortgage crisis. Synthetic CDOs are controversial because of their role in the subprime mortgage crisis. Economist Mark Zandi described moral hazard as a root cause of the subprime mortgage crisis. He opposes regulating the subprime mortgage industry. Go Financial is a financer of subprime loans. This argument is quite pertinent in the context of the subprime mortgage crisis. They did so by developing mortgage-backed securities in the riskier non-conforming subprime and Alt-A market. The majority of subprime loans were issued in California. Some believe that this helped lead to the 2007-2010 subprime mortgage crisis.