Sentences with phrase «risky subprime lending»
Mortgage defaults are on the rise, but risky subprime lending isn't entirely to blame.
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Borrowers with scores below 620 are sometimes characterized as «subprime,» and because lenders view them as risky, they frequently charge them higher rates — if they'll lend to them at all.
By 2005, many lenders dropped the required FICO score to 620, making it much easier to qualify for prime loans and making subprime lending a riskier business.
The riskiest of the subprime auto loan borrowers might find more luck in going with smaller lenders that are willing to accept the risk to stay in the lending game.
In 2004, as regulators warned that subprime lenders were saddling borrowers with mortgages they could not afford, the U.S. Department of Housing and Urban Development helped fuel more of that risky lending.
Subprime lending is riskier, because borrowers are more likely to default.