Has the Subprime Meltdown Created a New Credit Crunch Paradigm?

August 21, 2007

The dramatic surge in subprime mortgage volume since 2004 has created a new set of conditions for lenders and the broader economy. Never before have so many borrowers purchased a home with so little real equity and under such aggressive interest rate reset and option payment conditions. Are banks and other consumer lenders facing a new set of collection dynamics? Which credit products will be affected?

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