by Calculated Risk on 7/21/2014 01:42:00 PM

CR Note: If you want to understand subprime lending, I strongly suggest the following post from my former co-blogger Doris "Tanta" Dungey. This was written in 2007, but the concepts are forever. Read it all.

What Is "Subprime"?

For other Tanta posts, see: The Compleat UberNerd and Compendium of Tanta's Posts