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."
The Subprime mortgage meltdown has shaken the world's financial system.
by Wally Lorne January 13, 2008
Get a subprime mug for your cat Jerry.
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.
by CHOK2 January 07, 2008
Get a subprime mug for your mother-in-law Riley.
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
Get a subprime mug for your mother-in-law Zora.
The opposite of prime. Means uncool.
Dan: Dude.. I crashed my car..
Rob: Oh.. subprime
by Chase Redden January 06, 2008
Get a subprime mug for your mom Larisa.
Someone who is pie as fuck.
Subprime: I'ma be real wif you dog your attitude right now is horrible.
Everyone: Fuck you Subprime, you pie as fuck.
by Been Had Polo October 24, 2009
Get a Subprime mug for your Uncle Manafort.
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 13, 2009
Get a subprime number mug for your fish Yasemin.
Low life, untrustworthy, not worth giving your time nor attention to, looser, scrub
Don't waste your vibe on that subprime dude.
by Dr. Philogolist January 29, 2009
Get a subprime dude mug for your barber Jovana.