Industry News

Credit lines calling the subprime tune

Expanding investor role could eclipse vaunted FICO score
Published on May 2, 2007

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by CareyBot

As subprime lenders continue to fold their tents, either shutting down or being acquired (most often by secondary market firms), those who remain in business are learning that Wall Street and other funding sources are securely in the driver's seat.

"The credit line (providers) are calling the tune; they're our partners now," shrugs one monoline originator, pleased to still be in operation but not a little bitter about the loss of autonomy demanded in return for continued financial support ...

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