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Subprime Lending and Loans

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Subprime Lending - Sub Prime Loans Definition Glossary of Business Terms - Subprime Loans

Subprime Lending : Is a type of lending commonly used in the United States of America by borrowers that would not usually qualify for a regular loan.
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A subprime loan is a loan to borrowers that do not qualify for mainstream or A-paper loans because of their poor credit history or uncertain job circumstances. The subprime loan has a higher interest rate because of the higher risks that the lender is taking with the unqualified borrower.

Sub-prime lenders were traditionally smaller financial institutions and independent banks, but now major traditional banks in the United Kingdom and United States have also been offering subprime loans and mortgages (often they are operating under a different name to the parent company).

Problems in the subprime market began to arise in the United States after a real estate boom prompted financial companies to aggressively market subprime mortgages to borrowers that did not have the capacity to repay the loan. The American subprime crisis in 2007 created billions of dollars in losses and affected stock markets and financial markets around the world.

Also called : B-Paper, Second Chance loans, Near-prime, and Sub prime.


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