Subprime lending (also known as B-paper, near-prime, or second chance lending) is the practice of making loans to borrowers who do not qualify for the best market interest rates because of their deficient credit history.
This word first came into prominence in 2007 with the global
subprime mortgage meltdown.
The prefix "sub" translates roughly to "below the standard," while "prime" means something close to "the best."
This word first came into prominence in 2007 with the global
subprime mortgage meltdown.
The prefix "sub" translates roughly to "below the standard," while "prime" means something close to "the best."
by Wally Lorne January 14, 2008
The term originated in the financial services industry to refer to lower-credit-score borrowers. However, thanks to continuous media use, a much broader audience was exposed to it in 2007 during the credit meltdown. Now, it is used to describe anything that is below standard or less than ideal.
This restaurant is subprime, let's get out of here!
by CHOK2 January 7, 2008
A loan for those whom have "Shit" credit, with no desire of fixing and improving their credit, those who are knowingly lying about thier income, and whom really have no business buying a home.
Countrywide should do more subprime mortgages!!!
by Mikey_D March 15, 2008
by Chase Redden January 6, 2008
Subprime: I'ma be real wif you dog your attitude right now is horrible.
Everyone: Fuck you Subprime, you pie as fuck.
Everyone: Fuck you Subprime, you pie as fuck.
by Been Had Polo October 24, 2009
A subprime number is a number which is exactly one less than a prime number. There are an infinite number of subprime numbers, as was indirectly proven by Euclid in the year 300 B.C.E.
1 is a subprime number, because 2 is a prime number, and 2 - 1 = 1. 498 is a subprime number, because 499 is a prime number, and 499 - 1 = 498.
by Lirrad April 14, 2009
Subprime is defined as credit scores of 580-619. The highest grossing vehicles sold in the subprime tier are Nissan, Chrysler, and Hyundai. Subprime racing is when two vehicles financed with subprime loans race through a city with below median GDP per capita.
I went down to Crenshaw in South LA to watch a Nissan Altima compete with a Chrysler 200 in subprime racing. The Chrysler pulled ahead in the beginning before the transmission burned out and it stalled.
by nilxela May 15, 2023