The major subprime lenders change. The lenders who had the greatest market share 6 months ago are different than the ones today. Today, some refer to FHA, as the new subprime. An FHA loan is a goverment insured loan that allows up to 97% of the purchase price of an owner occupied home. An FHA loan can also be used for a refinance. FHA is not a credit score driven program.
The subprime lending industry has slowed or vanished. Now, more than ever it is important to improve credit and strive for at least a 620 credit score to apply for a mortgage unless you can be approved FHA or VA. A few years ago a consumer could do 100% financing with a 580 credit score. That program is gone.