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• A classification of borrowers with a tarnished or limited credit history. Lenders will use a credit scoring system to determine which loans a borrower may qualify for. Subprime loans carry more credit risk, and as such, will carry higher interest rates as well. Approximately 25% of mortgage originations are classified as subprime.

• Investopedia Says: Occasionally some borrowers might be classified as subprime despite having a good credit history. The reason for this is because the borrowers has elected to not provide verification of income or assets in the loan application process.'

• The loans in this classification are called stated income and/or stated asset (SISA) loans or even no income/no asset (NINA) loans