this may or may not help....it is all so confusing.
Testimony of Prof. Michael E. Staten, Director, Credit Research Center, Georgetown University, before the United States House of Representatives Committee on Financial Services Hearing on “Subprime Lending: Defining the Market and its Customers,” March 30, 2004:
Banking regulatory agencies generally designate a subprime borrower as having one or more of the following credit history characteristics: two or more 30-day delinquencies in the past 12 months; one or more 60-day delinquencies in the last 24 months; a collection-related legal judgment, foreclosure, repossession, or account charge-off in the past 24 months; bankruptcy in the previous 5 years; a high default probability as measured by a Fair Isaac Co. (FICO) credit score of 660 or below; or a debt-service-to-income ratio of 50% or greater.
Another subject without a true consensus, every lender is different. I believe it's below 600.
Is it below 700? 650? 500? What is it? What is the subprime range
I want to know how subprime I am