subprime


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Related to subprime: Subprime Lenders

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).]
American Heritage® Dictionary of the English Language, Fifth Edition. Copyright © 2016 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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
Collins English Dictionary – Complete and Unabridged, 12th Edition 2014 © HarperCollins Publishers 1991, 1994, 1998, 2000, 2003, 2006, 2007, 2009, 2011, 2014

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.”
Dictionary of Unfamiliar Words by Diagram Group Copyright © 2008 by Diagram Visual Information Limited
References in periodicals archive ?
One can only speculate when the subprime crisis will end.
That's what happened on one important issue in this year's experimental annual session: Legislators adjourned Friday without giving stronger protection to people who finance their homes with subprime mortgages.
Gibson said that he blames the decline in the real estate market on the proliferation of subprime loans.
People with "subprime" credit scores are reportedly getting approved for Apple's (AAPL) new credit card, CNBC's Hugh Son reported on Friday.
In the Fall 2018 issue, I discussed a paper that found that the cumulative losses (through 2013) on all subprime residential mortgage-backed securities (MBS) issued between 1987 and 2008 were dramatically lower for subprime AAA-rated MBS (0.42%) than all AAA-rated MBS (2.3%).
At the onset of the last housing crisis, it was widely believed that the lenders who extended subprime mortgages and the homeowners who had taken out those loans were responsible for the housing boom, bust, and ensuing economic crisis.
Growing numbers of small subprime auto lenders are closing or shutting down after loan losses and slim margins spur banks and private equity owners to cut off funding.
Delinquent subprime loans are nearing crisis levels at auto-finance companies in the US, according to Bloomberg.
(http://newsroom.transunion.com/federal-interest-rate-hikes-delaying-millennial-home-buying/) Nearly two in five  have subprime credit and, according to a new study, the cards those individuals are most eligible for - and for which they're often targeted through pre-approved offers - can cost them dearly.
subprime auto ABS delinquencies reached back in February, though Fitch Ratings says that rising delinquencies are not the concern foremost on the minds of investors.
Here are four differences the CFPB highlighted regarding how credit unions, banks and subprime lenders run their card programs.