What's the difference between a primary lender and a secondary lender?
The principal lender is the main target of the loan handling bank's audit, and the secondary lender will also be audited, but the requirements are usually lower than those of the principal lender. Therefore, when making a loan, the party with good and stable income, strong repayment ability and good comprehensive credit conditions is generally regarded as the main lender. Of course, this does not mean that subprime lenders are unimportant. If the sub-prime lender's credit is bad, such as the recent bad credit record in the credit report, it will still affect the approval of the loan, which is likely to lead to the rejection of the loan application.