Do those considered "sub-prime" morgatage lendees know that they are "sub-prime"?

There’s been a lot of talk about the reason for this recession and the involvement of lending on “sub-prime” mortgages. I’m not doubting that giving money to people who can’t pay it back is a bad idea. I just wonder, does the bank tell you that it thinks you are less likely to pay them back when it gives you the check, or does your “prime-able” status remain a mystery to you. I’m very young and have never had to ask for a loan before.