subprime

Definitions

Examples

• For households with subprime credit scores, credit options may be limited to high-cost options such as payday loans.

• Amid the subprime loan crisis, foreclosed-upon moms bore lower-weight babies.

• They chose to put some of that risk into the predatory subprime lending market which steered borrowers—disproportionately people of color—to buy or refinance their loans, often at higher rates than they qualified for.

• So, in the subprime-mortgage crisis, we believed that mortgages were always going to just pay out regularly forever, when it actually turned out that the package of mortgages were actually a terrible asset.

• He led a turnaround at the bank after a near crippling 2008 acquisition of troubled subprime lender Countrywide Financial, attracting Warren Buffett as a major investor along the way.

• Eventually, Cuomo entered the Clinton administration, and as HUD secretary sowed the seeds of the subprime mortgage catastrophe.

• “These are not subprime mortgages,” he said of his portfolio that stretched from shipyards to oil rigs.

• Hedge funds it owned, which had employed vast leverage to bet on subprime bonds, loudly blew up in the summer of 2007.

• “Right after the subprime mortgage crisis, it was all really up in the air,” he says.

• Imagine, for instance: We had a governor of New York who was looking into the subprime mortgages, in D.C. testifying on that.