The vast majority of even subprime borrowers have been making their payments. Indeed, fewer than 15 percent of borrowers in this most risky group have even been delinquent on a payment, much less defaulted.Stately bow to Marginal Revolution.
My take? Private lenders and private borrowers are finding each other and agreeing on terms. When the borrower defaults, both parties lose. What exactly is the problem here?
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