Due to the collapse of the mortgage market, there are a lot of the majority of subprime mortgage lenders closure or bankruptcy. In any case, there are thousands of people laid off in the street.
Despite the failure of subprime borrowers to repay their loans is considered the main reason for mortgage lenders to close businesses, there are some signs (and concerns) that is also upper class citizens who seem to experience financial difficulties.
How mortgage lenders try to prevent the closure?
Basically, lenders raise credit needs and reject loan applications for high LTV loans. The element of risk has been removed from a mortgage application. That income, low credit is impossible to find funding for non-payment.
Government seeks to lower the prime rate on several occasions and some government-backed mortgage programs have been created or modified again to help alleviate the levels of exclusion and allow borrowers to refinance better, more affordable.