subprimeReferring to credit or loan arrangements that carry a high risk of default and thus draw higher interest rates.
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Denoting or relating to credit or loan arrangements for borrowers with poor credit histories, typically having unfavorable conditions such as high interest rates.
mortgageA legal agreement that allows you to borrow money from a bank or similar organization by offering something, especially a property, as a guarantee.
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A legal agreement by which a bank, or similar organization, lends money at interest in exchange for taking title of the debtor's property.
securitizationThe process of turning an asset, particularly loans, into a financial security that can be bought and sold.
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The conversion of an asset, especially loan portfolios, into marketable securities, for raising funds in financial markets.
defaultFailure to fulfill an obligation, typically to repay a loan.
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Failure to fulfill an obligation, especially to repay a loan or appear in a court of law.
recessionA period of temporary economic decline.
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A period of temporary economic decline during which trade and industrial activity are reduced.