In finance, subprime lending is the provision of loans to people in the United States who may have difficulty maintaining the repayment schedule. Historically, subprime borrowers were defined as having FICO scores below 600, although this threshold has varied over time. These loans are characterized by higher interest rates, poor quality collateral, and less favorable terms in order to compensate for higher credit risk.
Very few real conservatives are subprime borrowers. Opinion.
Subprime lenders gave us 2008. This will be on the final.
They were encouraged by congress to do this. Remember Slobbering Barney Frank stating that Freddie and Fannie were financially sound and the gov't doesn't bail them out if they are not. That they should be doing more loans? Remember Schumer stating how Fannie and Freddie are doing an incredibly good job?
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