Archive - Jul 4, 2009 - Blog entry
Alternative A-Paper Mortgages: The Next Trillion Dollar Housing Problem.
Submitted by drhousingbubble on 07/04/2009 12:32 -0500Anytime someone tells you that a mortgage is less risky than “subprime” you know you have a problem. The Alt-A mortgage is largely absent from the current mainstream housing debate but is really the next wave that will further depress housing prices. Data produced from a June 2009 OTS and OCC report highlighting market conditions for 64 percent of U.S. mortgages finds that some 3.5 million loans are categorized as Alt-A. California issuing IOUs is home to many of the Alt-A mortgages.
