A pool of loans composed of borrowers all of whom had a FICO score of 615 was likely far fewer defaults than a pool of loans with the same average but more dispersion—e.g.composed of borrowers half of whom had FICO scores of 550 and half 680, since someone who had earned a FICO score as low as 550 "was virtually certain to default". Knowing this blind spot, securities issuers who could no longer find high-FICO-scoring families who wanted to take out a mortgage found other ways to raise the average pool score. One way was to convince immigrants to buy homes. People who had not been in the country long, often had "never failed to repay a debt, because they had never been given a loan". Such people had surprisingly high FICO scores if you ignored the short credit history or "thin file". Rating agencies did, and FICO scores ignored and personal or household income. Thus did low income immigrants increase the percentage of pool of loans that could be declared triple-A" and explain otherwise unlikely sounding press reports of a "Mexican strawberry picker with an income of $14,000 and no English" being "lent every penny he needed to buy a house of $724,000". Other "opportunities" for issuers manipulating credit raters included   "The models used by the rating agencies were riddled with these sorts of opportunities", according to Lewis. "The trick was finding them" before other security issuers did. In 2006, the Credit Rating Agency Reform Act was passed, intending to break the dominance of the "big three" agencies—Standard & Poor's, Moody's, and Fitch—by making it easier to qualify as a "nationally recognized" ratings agency. However, in 2013, McClatchy Newspapers found that "little competition has emerged in rating the kinds of complex home-mortgage securities whose implosion led to the 2007 financial crisis". In the 12 months that ended in June 2011, the SEC reported that the big three issued 97% of all credit ratings, down only 1% from 98% in 2007. Critics have complained that the criteria to designate a rating agency as "a nationally recognized statistical rating organization" was written by a "yet-to-be-identified official of one of the big three ratings agencies", and is so difficult that it has "prevented at least one potential competitor from winning approval and have dissuaded others from even applying". Former Federal Reserve chairman Paul Volcker complained in a September 2013 article on banking and the shortcoming of post-crisis financial reform, that "no meaningful reform of the credit-rating agencies has been undertaken".