DISQUS

Eric · 1 year ago

Does anyone know if their Alt-A program was manually underwritten or was it a DU loan?
Chuck · 1 year ago

I'm surprised it took them that long under these circumstances
morganb · 1 year ago

i agree - that's the first thing i say for every one of these non
cookie-cutter loan program roll-back announcements...
Toby · 1 year ago

One must define Alt-A. 5/3 was always fairly conservative with their Alt-A anyway. With higher GSE limits (essentially what was Alt-A jumbo) and other programs things have not changed a whole lot. They really just got rid of some odd-ball programs. Bottom line: they are tightening up like everyone else. Many of these lenders will not even do some FNMA programs because the warrants are so restrictive now. FNMA is the 800 pound gorilla.
tony · 1 year ago

ALT A is nothing more that subprime one level up!!!. simple means you have "good " credit on a 50K income but you want that 400K house....they call it over-extended...
morganb · 1 year ago

i agree - alt-a is a great euphemism for undocumented income.