During the housing crisis borrowers with bad credit records were unable to obtain mortgages, but now a small number of lenders are beginning to offer subprime mortgages once again. These types of mortgages are becoming available to borrowers who present a higher credit risk, typically those with scores of less than 640. The article in
Lenders Return To The Subprime Market
February 26, 2014 by
Lenders are returning to the subprime market – although still at only a fraction of what subprime lending was before the mortgage crisis, BusinessWeek reports.
Taxpayers On Hook As Government Insured Lending Spins Out Of Control
March 24, 2012 by
Even as government agencies settle mortgage and foreclosure related lawsuits, the Dodd-Frank legislation takes effect and the nation grapples with the fallout from the largest credit crisis in U.S. history, the truth is we’re no better off today than we were when this entire mess began to unravel back in 2007.