Algorithms can be just as biased as a loan officer sitting across a desk, according to a new study by professors at the University of California, Berkeley.
Following the subprime mortgage crisis, low-income borrowers with low credit scores were locked out of homeownership. Now a major player in the subprime crisis is backing new loans to the same borrowers but with a far different product.
African-Americans tend to pay more for cars than their white counterparts. Now that trend could get worse, with Congress voting to eliminate loan discrimination guidance.
Black Americans tend to pay more for cars than their white counterparts. Now that trend could get worse.
Subprime mortgages were home loans made to borrowers with weak credit and high debt. The default of many of those risky mortgages was a major cause of the financial crisis. Ten years later, they’re back, as “nonprime” loans. We ask Redfin Chief Economist Nela Richardson if the risk has returned.
Sam Dunlap, Angel Oak Capital Advisors senior portfolio manager, and Marcus Stanley, Americans for Financial Reform policy director, discusses the comeback of subprime housing loans and how it could impact the housing market.
CNBC's Diana Olick reports on non-prime loans aimed at poor credit borrowers.
Veteran underwriter of subprime mortgages, Dan Perl is leading a small band of lenders making subprime loans once more, the Financial Times writes.
CNBC's Jim Cramer revisits his infamous rant about the Fed from 2007. Has anything really changed?
CNBC's Phil LeBeau has the details of a new report showing lenders are beginning to realize too much subprime lending is not good.
The latest subprime fear in the auto industry already has investors worried.
Ken Rees, Elevate CEO, discusses the road to the subprime lender's IPO, including repricing, and the loan environment for borrowers.
Big banks are backing away from parts of the auto loan market as Americans take on bigger debts that take longer to pay off.
Top banking stocks have traded in alignment with market expectations for an interest rate hike from the Fed — but one analyst says that should end soon.
Delinquencies in subprime auto loans are on the rise, and that could signal bad news for lenders and automakers.
The shares' plunge to start the year has been reversed, and loose monetary policy could support lenders’ operations.
Santander Consumer USA looks to resolve issues regarding "discount accretion and credit loss allowance methodologies."
Analysts are almost universally bearish on consumer banks in the longer term, because interest rates are likely to stay low.
Fintech start-ups are looking to cash in as financing capital has become tough to come by.
The companies invested in a fund, named for Knight of the Round Table, backing loans originated through their partnership.