“Non-Prime”: the New Subprime Mortgage

Here we go again. Let’s just go back to 2007 shall we?

Behind that picture of a $2.95 million home in Manhattan Beach, California, were hints of something darker: liar loans, those toxic mortgages of the subprime era.

Source: Liar Loans Redux: They’re Back and Sneaking Into AAA Rated Bonds – Bloomberg Business