Sentences with phrase «offer subprime mortgage loans»

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About the U.S. Credit Conditions section The U.S. Credit Conditions section of the New York Fed's website offers interactive maps, as well as data on major forms of household credit such as installment loans, auto and student loan delinquencies, foreclosures, mortgage delinquencies and mortgage «roll» rates for subprime and alt - A mortgages.

Subprime loans were mortgages with higher interest rates than conventional mortgages offered to people with low incomes or poor credit or who simply failed to shop around and understand they qualified for better rates.

On a recent day, they offered interest rates of 6.99 % to 8.99 % on one type of subprime mortgage and loan approvals within four hours.

As an Alt - A lender, IndyMac's business model was to offer loan products to fit the borrower's needs, using an extensive array of risky option - adjustable - rate - mortgages (option ARMs), subprime loans, 80/20 loans, and other nontraditional products.

Proponents of subprime lending realized the demand for homeownership and refinancing despite imperfect credit and jumped on this untapped customer base, offering similar, if not more aggressive mortgage loan programs at a premium.

«Unlike the subprime loans of the past, we offer loan products not typically offered by banks but with reasonable mortgage rates and fees,» said Raymond Eshaghian, president and founder of GreenBox Loans in Los Angloans of the past, we offer loan products not typically offered by banks but with reasonable mortgage rates and fees,» said Raymond Eshaghian, president and founder of GreenBox Loans in Los AngLoans in Los Angeles.

Some unrestrained lenders, for example, offered infamous 2/28 adjustable - rate mortgages to entice subprime borrowers to initiate loans at low rates, only to find that they could not afford the payments when the mortgage quickly reset at a much higher rate.

It would be a stretch to call Fannie Mae a backer of subprime mortgage loans, but in many cases they offer loans to people with below - average credit if they have strong credentials in on areas.

BankRate defines a «subprime mortgage», as a home loan offered to people with credit scores under 620.

But during the early and mid-2000s, high - risk, or «subprime,» mortgages were offered by lenders who repackaged these loans into securities.

Athas Capital Group in Calabasas began issuing subprime loans last April, offering mortgages at 9.75 percent for borrowers with a credit score of 550 to 599 who can make a 30 percent down payment.