What Is Subprime Mortgage Crisis?
"Secondary"
mortgage
The loan crisis is caused by the turmoil in the US subprime mortgage market.
financial crisis
。
Subprime mortgage loan refers to the loan provided by some lenders to borrowers with low credit level and low income.
In the past few years, when the housing market in the United States was highly prosperous, the subprime mortgage market was developing rapidly, and even some borrowers who were generally considered to be unable to repay were also buying houses.
loan
This is a hidden danger for the subsequent subprime mortgage market crisis.
background information
The so-called subprime mortgage market in the United States is mainly financial institutions providing mortgage loans for people whose credit score is less than 620 cents, income proof is missing and heavier debt. According to the latest estimates of the American mortgage bankers association, 30% of Americans who received subprime in 2006 may not be able to repay loans in time.
After the recent credit crisis in the United States, some subprime mortgage companies and hedge funds have been closed down or suspended.
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