Alt-A


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Alt-A

n
a type of US mortgage with interest rates determined by credit risk
[From Alternative A-paper]
References in periodicals archive ?
"The whole thing started with subprime loans, but now includes Alt-A's--products with lower credit standards and verification requirements--and jumbos, all nonconforming loans."
Witness the meteoric rise in alt-A lending at wholesaler SouthStar Funding, which as recently as January 2004 had no alt-A product offerings and as of June did about $125 million a month in such lending, representing just under one-quarter of its entire business, reports Kirk Smith, president.
Most popular among SouthStar's alt-A products are the no-income, no-asset loans (affectionately known as NINAs) and stated-income loans, another no- or low-document-required mortgage.