It's better to be a subprime lender than a prime one these days, according to the chairman and chief executive of New Century Financial Corp.

"In the conforming world, most people have refinanced multiple times over the last few years, and we have either seen or are near the low point of the conforming interest-rate environment," Robert Cole said in an interview with ASR sister publication American Banker.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.