The ChicagoMade Shorts Series is a celebration of the robust local independent film community and a showcase of entertaining work produced by talented Chicago-based artists. Submission is now open for original, entertaining short films a maximum of 8 minutes in length created by Chicago-based filmmakers.
What is a Subprime Loan? A subprime mortgage is a type of loan offered to borrowers with poor credit scores. Typically these are individuals with credit scores lower than a 600 and cannot qualify for a conventional loan. This may also include borrowers with derogatory or adverse credit histories.
Many subprime loans were packaged into mortgage-backed securities (MBS) and ultimately defaulted, contributing to the financial crisis of 2007â2008. Proponents of subprime lending maintain that the practice extends credit to people who would otherwise not have access to the credit market.