This article provides an overview of the non-prime mortgage industry. Today more Americans than ever enjoy the benefits of homeownership. Low interest rates are clearly a large factor, but the non-prime mortgage industry has played a major role in this expansion of the American dream as well, particularly over the past 5 to 10 years as the industry has successfully extended credit to millions in underserved markets who may have less-than-stellar credit, be self-employed, or have other non-standard characteristics. At the core of this decade of change is loan securitization. While non-prime lending takes extra effort in both origination and servicing, data shows that the result is a high-quality loan pool that benefits borrowers and is profitable for both lenders and investors.