Saturday, January 19th 2019


What is a subprime lender?

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13th May 2011 by Violeta De Castro - Angola Specific

A subprime lender is like an Indian house to house creditor, just like what you can find in the Philippines. They usually ride motorcycles and offer credit to small scale business such as sari-sari store, sago gulaman vendor, tailoring shop, etc. They charge interest of 20% per week- thus the term 5-6 which they are known for. In Sampaloc, there is a thriving Indian community (Prudencio and Honradez St). They cook curry for breakfast, lunch and dinner. Their neighbors complained to the baranggay because of the foul odor their food emits (not to mention the body when sweating). After the 1986 revolution, most of these Indians went underground and formed their own group known as AmBaHo Nha Min. But during the 1990 Senate investigation, it was discovered that these Indian are involved in sexual orgy- which they videotaped and distributed for sale in the United States.

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11th Nov 2009 by Burt Carlson

There are no more sub prime lenders in the marketplace today. When they were in business they took enormous risks such by allowing borrowers with credit scores as low as 500 to get loans and offering 100% financing to borrowers with risky credit profiles. The rates they charged were very high but still not enough to offset their losses. They were casualties of the housing and financial crisis. Today FHA loans have replaced sub prime as the loan product of choice for borrowers with risky credit profiles.

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9th Nov 2009 by Elizabeth

Subprime lenders specialize is providing loans to borrows who do not qualify for a standard loan for various reasons, such as a low credit score. Subprime lenders may charge higher interest rates and require additional documentation. A subprime borrower may also not be able to qualify for the same loan amount as a a borrower with better credit.

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9th Nov 2009 In Finance 3 Answers | 2242 Views
Subjects: lender, subprime lender,

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