"subprime" lender ???

As I am not american, could somebody (please !) explain me what is a
"subprime lender", quoted below? and what is the link with predatory lenders
??

thanks in advance !

Benoît Granger



-----Message d'origine-----
De : owner-COMMUNITYDEVELOPMENTBANKING-L@cornell.edu
[mailtowner-COMMUNITYDEVELOPMENTBANKING-L@cornell.edu]De la part de
alan fisher
Envoyé : vendredi 20 avril 2001 03:41
À : APJ@co.miami-dade.fl.us
Cc : "'Community Development Banking'"@
Objet : Re:


HUD publishes a list of subprime lenders

"Braynon, Patricia (HFA)" wrote:

> "'nalhfanet'"@
> <nalhfanet@alhfa.org>
> Subject: Question about Predatory Lenders
> Date: Thu, 19 Apr 2001 15:09:16 -0400
> Return-Receipt-To: "Braynon, Patricia (HFA)" <APJ@co.miami-dade.fl.us>
> MIME-Version: 1.0
> X-Mailer: Internet Mail Service (5.5.2650.21)
> Content-Type: text/plain;
> charset="iso-8859-1"
>
> Colleagues,
> Does anyone know where I can obtain a list of known Predatory Lenders by
> geographical area? I am specifically looking for Predatory Lenders doing
> business in South Florida.
> Thanks for your help.
>
> Patricia J. Braynon
> Director, Housing Finance Authority
> 25 West Flagler Street, Suite 950
> Miami, FL 33130-1720
> 305-372-7990
> 305-371-9152 fax
> apj@co.miami-dade.fl.us
> "Minds Are Like Parachutes...They Work Best When Open"



This post transferred from the cdb-l mailing list

Subprime lenders are merely those that are not "prime," i.e. major banking
institutions; for example, a private mortgage company. The term is not in
itself meant to be pejorative, but some subprime [as well as some prime, for
that matter] lenders have predatory practices. There are reputable subprime
lenders as well, however.

Carola Burroughs
Neighbors Helping Neighbors, Inc.
5313 5th Avenue
Brooklyn, NY 11220
TEL: (71 492-3450
FAX: (71 492-3692
----- Original Message -----
From: Benoît Granger <micfin@noos.fr>
To: <afisher@ionix.net>; <APJ@co.miami-dade.fl.us>
Cc: '"'Community Development Banking'"@'
<communitydevelopmentbanking-l@cornell.edu>
Sent: Friday, April 20, 2001 8:31 AM
Subject: RE: "subprime" lender ???


>
> As I am not american, could somebody (please !) explain me what is a
> "subprime lender", quoted below? and what is the link with predatory
lenders
> ??
>
> thanks in advance !
>
> Benoît Granger
>
>
>
> -----Message d'origine-----
> De : owner-COMMUNITYDEVELOPMENTBANKING-L@cornell.edu
> [mailtowner-COMMUNITYDEVELOPMENTBANKING-L@cornell.edu]De la part de
> alan fisher
> Envoyé : vendredi 20 avril 2001 03:41
> À : APJ@co.miami-dade.fl.us
> Cc : "'Community Development Banking'"@
> Objet : Re:
>
>
> HUD publishes a list of subprime lenders
>
> "Braynon, Patricia (HFA)" wrote:
>
> > "'nalhfanet'"@
> > <nalhfanet@alhfa.org>
> > Subject: Question about Predatory Lenders
> > Date: Thu, 19 Apr 2001 15:09:16 -0400
> > Return-Receipt-To: "Braynon, Patricia (HFA)" <APJ@co.miami-dade.fl.us>
> > MIME-Version: 1.0
> > X-Mailer: Internet Mail Service (5.5.2650.21)
> > Content-Type: text/plain;
> > charset="iso-8859-1"
> >
> > Colleagues,
> > Does anyone know where I can obtain a list of known Predatory Lenders by
> > geographical area? I am specifically looking for Predatory Lenders doing
> > business in South Florida.
> > Thanks for your help.
> >
> > Patricia J. Braynon
> > Director, Housing Finance Authority
> > 25 West Flagler Street, Suite 950
> > Miami, FL 33130-1720
> > 305-372-7990
> > 305-371-9152 fax
> > apj@co.miami-dade.fl.us
> > "Minds Are Like Parachutes...They Work Best When Open"
>
>



This post transferred from the cdb-l mailing list

Actually, I believe the definition of "subprime" refers not to the lender
but to the borrower--that is, subprime lenders refer to borrowers who have
issues of repayment history, work history, or other factors that result in
an inability to get credit on the same terms as "better" customers. (I'm
trying to be somewhat politically-correct here.) Subprime loans carry a
higher interest rate and/or more onerous terms.

David R. Wohl
Sabino Community Development Resources
4505 N. Quartz Hill Drive
Tucson, AZ 85750
Phone: (520) 760-8976
Fax: (520) 760-0548
E-mail: drwohl@earthlink.net <mailto:drwohl@earthlink.net>
http://home.earthlink.net/~drwohl



This post transferred from the cdb-l mailing list