Sentences with phrase «subprime lending operations»

Many of the big banks closed or curtailed their subprime lending operations early in the decade, but their funding of nonbanks means they still have a role, albeit an indirect one, in the sector.

Not exact matches

Wells Fargo spokeswoman Vickee Adams said the problematic FHA loans turned up as the bank reviewed operations at two mortgage channels it has closed down: a subprime lending arm, Wells Fargo Financial, and a wholesale arm that made loans through independent brokers.

If lenders exercised poor underwriting in the subprime market, it's likely their judgment in their Alt A and prime lending operations wasn't much better.