australia's sub prime market

Our own sub prime problem is starting to be exposed, this will not be the last
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Provident implosion exposes low-doc risks
THE $130 million collapse of subprime lender Provident Capital has highlighted the emerging problems in the nation's low-doc and no-doc lending markets, which flourished during the years of the last property boom
He said the receiver would seek to recover funds by repossessing houses of defaulting borrowers and slowly releasing them into the market or by selling the defaulting loans if an investor could be found.

"This won't be a fire sale and we won't be putting all these properties out on to the market at the same time," Mr Ayres said.