Subprime lending has triggered a global financial crisis, but it remains misunderstood. Here are some basic facts, culled from an upcoming report on abandoned housing by the Partnership for the Public Good. Subprime loans are high cost loans, ostensibly designed for people with less than “prime” credit. In reality, mortgage brokers and lenders often succeed in selling subprime loans to people with good credit. According to the Wall Street Journal, by 2006, fully 61% of subprime loans were going to people who qualified for conventional loans.