subprime

(redirected from Subprime lending)
Also found in: Financial, Wikipedia.

sub·prime

 (sŭb′prīm′)
adj.
Relating to loans that have a high interest rate and high risk of default.

[sub- + prime (from the fact that loans with high interest rates are offered to nonpreferred or less creditworthy borrowers).]

subprime

(ˈsʌbˌpraɪm)
adj
(Banking & Finance) (of a loan) made to a borrower with a poor credit rating, usually at a high rate of interest
n
(Banking & Finance) a loan made to a borrower with a poor credit rating

subprime

A term used to refer to any loan or credit product with terms and conditions that are less stringent than normal. For example, a mortgage product designed to be made available to customers with poor credit histories may be described as a subprime mortgage.”
References in periodicals archive ?
In response to the growing number of foreclosures in the state, due in large measure to the crisis sparked by subprime lending practices, the state Banking Department has established new requirements for state-licensed mortgage lenders to help consumers address potential mortgage problems.
Former Federal Reserve Chairman Alan Greenspan admits he failed to foresee the danger subprime lending might pose to the economy, but brushes aside critics who blame the Fed for lowering interest rates too low.
Journalist Lord exposes the growth of subprime lending and its connections to predatory lending and rising foreclosure rates in the United States.
Her litigation experience has involved state and federal consumer regulation, elder abuse, fraud, and unfair and unlawful business practices; and she has special expertise in matters relating to subprime lending and securitization of home mortgage products.
CITIGROUP WILL PAY as much as $20 million to North Carolina mortgage holders to settle allegations that its subprime lending unit, The Associates First Capital Corp.
Amid turmoil in the subprime lending market, PacificAmerica Money Center is discontinuing its wholesale loan division, which accounted for 75 percent of its business, the company announced Tuesday.
Bourque characterized as the "mess" in the subprime lending market, has contributed to the gloomy outlook.
It also covers subprime lending issues such as: securities class actions by investors against lenders and home builders; ERISA class actions by 401(k) participants and beneficiaries against lenders and home builders alleging breach of fiduciary duties; class actions by home buyers against builders and financial institutions alleging deceptive trade practices; government action against lenders; lawsuits by investos against investment banks; corporate asset sales of businesses adversely affected; and, directors and officers liability.
Mayer Brown announced that it has formed a Subprime Lending Response Team to help clients address the issues resulting from the continuing distress in the subprime lending market.
Bobit CEO/President Ty Bobit said the acquired assets, including "the leading subprime lending publication," have strong synergies with Bobit's "F&I Magazine and the F&I Conference.
subprime lending market also requires watching,'' said Kazuhiro Takahashi, head of the equity planning and administration department at Daiwa Securities SMBC Co.