0
I think it means Lending money to people who have bad credit at a lower interest rate ex; ARMS. and then when interest rates go higher , these people can't afford there payments, and end up in forecloseure Some of these loans were 100%+ financing. Meaning if the price of the house drops by 1% the owner would be in the red. If they ever sold the property at a lower price they would not be able to cover the cost of the loan.
Still curious? Ask our experts.
Chat with our AI personalities
Ezra
Taiga
ViviAdd your answer:
Earn +20 pts
What is sub prime lending?
In finance, subprime lending (also referred to as near-prime, non-prime, and second-chance lending) means making loans to people who may have difficulty maintaining the repayment schedule, sometimes reflecting setbacks such as unemployment, divorce, medical emergencies, etc. Historically, subprime borrowers were defined as having a FICO score below 640, although "this has varied over time and circumstances."
Does mean mean average?
No, but sometimes "average" means "mean" - when it doesn't mean median, geometric mean, or something else entirely.
Did he had the concept of venn diagram?
The answer will depend on who you mean by HE.The answer will depend on who you mean by HE.The answer will depend on who you mean by HE.The answer will depend on who you mean by HE.
What does the word mean mean?
See mean-8. Or get a dictionary.
What is the deviation mean mean?
There is no statistical term such as "deviation mean".
