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 ?
Shares of sub-prime lender Provident Financial tumbled 6.6 per cent on the mid-caps after Canaccord Genuity cut its rating to "sell", citing precarious capital position and dividend risks.
On Wednesday last week, Non-Standard Finance announced its GB1.3 billion offer for fellow sub-prime lender Provident had become unconditional as to acceptances, with 53% of Provident shares taking up the offer.
Non-Standard Finance (NSF) dismissed suggestions that it would have to raise fresh capital if the sub-prime lender was to succeed in its PS1.3bn takeover tilt for rival Provident.
GE Capital Woodchester Home Loans, a sub-prime lender, agreed to the loan without documentation from Orlaigh to prove that she could afford her share.
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.
July 25: Fremont Investment & Loan, a national sub-prime Lender of some repute, is closed in a voluntary Liquidation.
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 yesterday.
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 Au1.2 million and ordered to return over Au1 million in unfair charges to customers.
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.enpublishing.co.uk