The Mortgage Professor: Subprime Loans Back, and They’re U.S.-Insured

(MCT)—Think subprime mortgages have gone away? Think again. We have a subprime market lurking within the Federal Housing Administration, with features that are eerily similar to those of the private market that went into hyper-drive in the 2000s and collapsed in 2007. The central features of a subprime market are: —Expensive marketing directed to borrowers [...]