Subprime lending

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Subprime lending

Lending to individuals who have a bad credit history or relatively low income. A higher interest rate is charged for such loans because risk to the lender is higher. Excessive subprime lending is often pointed to as one of the major causes of the financial crisis of 2008-2009.
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According to Cook County, the bank's affiliates used sophisticated algorithms to provide black and Hispanic borrowers with sub-prime loans they often could not afford.
Judge says HSBC needs to face Chicago predatory lending lawsuit
While the sub-prime loans debacle in the US did spark the financial crisis, if Europeans had been responsible in their spending and debt accumulation, they would have been able to better manage the consequences, as did countries like Germany and China.
Financial engineering will not solve European crisis
The Federal Housing Finance Agency claims they sold pounds 25billion of sub-prime loans to mortgage giants Fannie Mae and Freddie Mac.
SHARES PLUNGE; Their stocks lead market tumble
These loans were non-prime or sub-prime loans mostly of the buy here pay here type.
Gulf Coast Auto Credit Announces Record Sub-Prime Auto Loans Funded in May
The bond, which is backed by sub-prime loans, is expected to be priced later on Wednesday.
-AmeriCredit plans USD700m bond issuance
US sub-prime loans effectively poisoned asset-backed bonds as struggling American borrowers defaulted on their repayments, which then triggered the crippling global credit squeeze and subsequent banking meltdown.
Bond launch marks RBS mortgage market return
The recent financial crisis has done minor damage to Sun National as it chose not to extend sub-prime loans, giving it a push to the leadership position in the recovering mortgage lending, the company said in a statement.
Steven Greenberg to head Sun Home Loans Inc
88 percent and almost 14 percent of sub-prime loans were in foreclosure.
Don't blame the Community Reinvestment Act: homeownership rates and CRA enforcement soared in the 1990s, but sub-prime came later. CRA shouldn't be the scapegoat for the housing meltdown
Although the credit union said it had no direct exposure to sub-prime loans, the credit union has taken a direct hit by the economic recession, which has adversely affected its commercial loan portfolio.
Texans CU reduces operating expenses to make up for $46 million loss
The boom in complex mortgage backed securities and an entire alphabet soup of toxic investments - as well as sub-prime loans to those who could never afford them - were driven by a compensation culture which "ran out of control", he said.
Fitting candidate to deliver sermon; In association with Lloyds TSB
Many of the illegal foreclosures were on properties with sub-prime loans where the transfer of ownership was not recorded in local property records, making the foreclosure action illegal.
Auditing firm launches multi-state fraud investigation
Both have been hit hard by the nation's slumping housing market - a crisis sparked by the sub-prime loans scandal, when people were granted mortgages they found they were unable to pay.
Fannie Mae warns of insolvency

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