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The Subprime Lending Crisis: What Does It Mean to the Leasing Industry?

By Patrick W. Begos
April 27, 2007

The news is full of stories about the substantial, long-term effects of the subprime mortgage crisis on the mortgage-lending industry. But little has been written about how it will affect other market segments like the leasing industry. There will certainly be spillover, although it won't be as dramatic. This article explores what the leasing industry should be looking for, and doing, in response to this crisis.

The Roots of Today's Subprime Crisis

It wasn't so long ago that home buyers needed 20% down for a mortgage. At
best, it was 10%. Mortgages were pretty straightforward. In fact, the most exotic loans available to ordinary people were for adjustable rate mortgages. In those
days, lenders were mainly brick-and-mortar banks that would probably expect to hold mortgages in their own portfolio for the long term. Today, those days appear positively quaint.

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