Sub-Prime Lender

Sub-Prime Lender

A bank or other financial institution that makes loans at interest rates higher than most other loans. Subprime loans are made to borrowers who do not qualify for ordinary loans because of bad credit history or some other reason. There is a higher risk of default on subprime loans. Their prevalence was a significant factor in the 2008 credit crunch. See also: Subprime mortgage.

Sub-Prime Lender

A lender who specializes in lending to sub-prime borrowers.

References in periodicals archive ?
SUB-PRIME lender Provident Financial said its quarterly trading has been robust - driven by strong growth at its credit card business.
The High Court ended John and Shelia Nolan's nightmare and dismissed the proceedings brought by sub-prime lender Home Funding Corporation Ltd.
HSBC's acquisition of Household made the group the biggest sub-prime lender in the US, which then cost the group hefty losses amid the sub-prime mortgage collapse and credit crunch.
Its British operations are expected to show flat profits for 2011, while its American arm continues to suffer the fall-out from the acquisition of sub-prime lender Household in 2002, reports said.
The Office of Fair Trading (OFT) has imposed requirements on Alliance & Leicester Personal Finance, American Express Services Europe, HFC Bank, part of HSBC, and Welcome Financial Services, which is part of sub-prime lender Cattles, following concerns about the way they were enforcing some consumers' debts.
Sub-prime lender Kensington has been hit with a fine for over Au1.
The sub-prime lender is still in talks with its lenders to get a standstill agreement.
Auto Business News-9 January 2009-UK sub-prime lender Cattles cuts 1,000 jobs(C)2009 ENPublishing - http://www.
HUNDREDS of jobs are at risk at sub-prime lender HFC Bank in Birmingham amid union allegations of "intolerable" bullying of many staff in the city.
And, in a cautionary tale for homeowners, Dawn said she thought one sub-prime lender was the "answer to her prayers" when she originally fell behind with her mortgage payments.
SUB-PRIME lender London Scottish Bank will cut lending after a pounds 21.
DeFazio is quick to point out that Metropolitan National Bank is not a sub-prime lender nor has it ever been but he said that the collapse of the sub-prime market did have a collateral impact on all banking institutions.