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  • Fannie May: The Day That Alt-A Died [View article]
    P-Mo:

    a defining characteristic of alt-a loans is that they do not have satisfactory documented evidence of recurring income or assets necessary to support the loans. period. that's why borrowers pay higher rates for such loans.

    if FNM had no such loans on their books, which is what you're implying, maybe you can describe what they were talking about when they said they were exiting the alt-a business.
    Aug 09 00:28 am |Rating: 0 0
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