MLchartDataset catalogue

Subprime loan

Term · Law · MLC-T-LAW-004734

A type of loan offered at a rate above prime to individuals who do not qualify for prime-rate loans due to a poor credit history or other factors indicating higher credit risk. These loans have higher interest rates and fees to compensate the lender for the increased risk of default. Subprime mortgages were a major factor in the 2008 financial crisis, leading to increased regulation under the Dodd-Frank Act.

Table 1. Record
IdentifierMLC-T-LAW-004734
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-004734",
  "term": "Subprime loan",
  "field": "Law",
  "definition": "A type of loan offered at a rate above prime to individuals who do not qualify for prime-rate loans due to a poor credit history or other factors indicating higher credit risk. These loans have higher interest rates and fees to compensate the lender for the increased risk of default. Subprime mortgages were a major factor in the 2008 financial crisis, leading to increased regulation under the Dodd-Frank Act.",
  "url": "https://mlchart.com/terminology/law/subprime-loan/"
}

Record 4,828 of 5,439 in Law terminology (MLC-0107). Request the full dataset.