Subprime hope

As the fallout from the troubled US subprime mortgage market continues to spread, Laurence Neville looks at what the future holds and examines some important factors that must be addressed to ensure its survival

Despite a rash of gloomy headlines, the US subprime market is far from extinguished. It presents too big an opportunity to simply disappear. In 2006, subprime represented around a fifth of all mortgage origination in the US. Together, subprime and Alt-A made up a third of all lending. The growth potential that lenders have been chasing over the past four to five years remains. But US mortgage-finance post-crisis will look very different from how it looked before.

A market more sober

Needless to

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