RECENT NEWS
Moody’s Downgrades Most Of $4.1 Billion In Alt-A RMBS From Countrywide
Penny Stock DD  Mar 29  Comment 
Moody's Investors Service downgraded most of a $4.1 billion batch of Alt-A residential-mortgage backed securities issued by Countrywide Financial, as the agency continues to lower its expectations on underlying loans. The firm has downgraded...
Press Democrat on Alt-A and Option-ARMs
Healdsburg Housing Bubble  Jun 1  Comment 
The Press Democrat published three articles on the mortgage crisis on the front-page of Sunday's paper authored by Michail Coit. Head over and give them all a read: Ticking time bomb for borrowers in pay-option loans Alt-A loans: Second wave of...
Will More Problems with Alt-A Loans Get Swept Under the Rug?
The Swamp Report  Mar 11  Comment 
From an article at Seeking Alpha.  The definition the administration uses for hope: "the fall back position when there is no option and no money even if we had an option". I remember a preacher said, "you never know how much you need God...
Government Considering Buying Up Bad Alt-A Mortgages
George Washington's Blog  Feb 13  Comment 
The government is considering buying up millions of the mortgages itself, and then allowing the homeowners to refinance on better terms. Given that the coming tidal wave of Alt-A mortgage defaults could be devastating to our already-depressed...
The Next Mortgage Meltdown: Alt-A Default Rate to Surpass 50%
George Washington's Blog  Dec 16  Comment 
Rating service Fitch is backpedaling on its previous optimistic projections of Alt-A mortgages, and is now calling for a higher percentage of defaults. Fitch forecasts a default rate of up to 15% in some cases. 15% default rate doesn't sound...
Fitch Ratings Takes a Hatchet to Alt-A Mortgages
Stock Market Analysis, Trading, And Financial Commentary - Rebel Traders  Dec 16  Comment 
Housing Wire reports: Citing “a rapid deterioration of U.S. Alt-A RMBS performance,” Fitch Ratings again took the hatchet to its previous assumptions for Alt-A mortgages on Monday morning, revising its surveillance methodology and updating...
Prime vs. Alt-A vs. Subprime
Owner Earnings  Aug 6  Comment 
How many borrowers out there had a FICO score high enough to qualify as "Alt-A," but were in reality "Subprime?" The answer: A lot, which is enough to conclude that most companies are still over valued. How many borrowers that had FICO scores...
Alt-A and Option ARMs set for big losses
Credit Writedowns  Jul 24  Comment 
Consumer credit quality is weakening across the US, especially in the former housing boom states. While over $450 billion in credit writedowns have already been taken by the global financial sector, most of these losses ave been concentrated in...
Alt-A
THE BIG BIG BET  Feb 14  Comment 
Ever heard of Alt-A loans? Better get familiar, because they're next. Alt-A loans, like as in alternative to A, like as in alternative to good credit or full documentation of income, is a loan written with substandard credit or ability to pay. ...
Fitch Downgrades Lower Tranches of Two Alt-A Trusts
naked capitalism  Jul 18  Comment 
Tanta at Calculated Risk reported on Fitch's downgradesof two mortgage trusts. The amount at issue isn't large. For each of the two First Horizon Home Loan Mortgage Trust issues (series 2006 AA-3 and Series 2006-F-2), Fitch downgraded the...




more ▼WIKI ANALYSIS
This article is part of WikiProject Definitions. Consider editing to improve it. View articles referencing this definition.
 

Alt-A - Alt-A is a type of mortgage product. Alt-A loans are generally higher in credit quality than subprime loans but have characteristics that would disqualify the borrower from a traditional prime loan. Alt-A lending characteristics may include one or more of the following: (i) limited documentation; (ii) high combined-loan-to-value (“CLTV”) ratio; (iii) loans secured by non-owner occupied properties; or (iv) debt-to-income ratio above normal limits. Perhaps the most important characteristic is limited documentation. A substantial proportion of traditional Alt-A loans are those where a borrower does not provide complete documentation of his or her assets or the amount or source of his or her income.

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