Business and Personal Finance Dictionary

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• SUB-PRIME LENDING
  
  'Sub-prime lending', also called 'non-conforming' loans, refers to loans that cater for those who can't meet the standard income verification and credit history criteria mainstream lenders like banks and mortgage originators use for ordinary borrowers. Such borrowers include those who are self-employed, have a poor credit record or others who do not fit standard lending criteria. Non-conforming loans are usually at higher interest rates.
  
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