Items Tagged with 'Subprime borrowers'

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  • Carrington Mortgage Services launches subprime lending program

    Claims manual underwriting process is safer than other non-prime programs
    Carrington Mortgage Services is launching a mortgage lending program that looks an awful lot like pre-crisis subprime lending, but the company claims that its new “non-prime” loans are much safer than the subprime loans of the mid-2000s. Carrington’s loan program allows credit scores as low as 500. “Recent credit events” and a “history of late payments” are acceptable as well.
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