Despite Recent Slowdown, Subprime Sector Still Gaining Ground in 2004 Mortgage Market
December 9, 2004
Subprime lenders have provided much of the muscle for a sagging mortgage market during the first nine months of this year, a new Inside Mortgage Finance analysis reveals. Overall, new originations of subprime mortgages totaled an estimated $375 billion through the end of September, a figure that marked a 63 percent year-to-date rise. Putting that number into perspective, one out of every six new residential mortgages made this year has gone to a credit-impaired