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Mortgage Lenders News. Too poor on 100K? Mortgage Lenders News. trimmed staff at its alt-A/conventional mortgage affiliate. Mortgage Lenders News trimmed staff at its alt-A/conventional mortgage affiliate.
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An Alt-A mortgage, short for Alternative A-paper, is a type of U.S. mortgage that, for various reasons, is considered riskier than A-paper, or "prime", and less risky than "subprime," the riskiest category.For these reasons, as well as in some cases their size, Alt-A loans are not eligible for purchase by Fannie Mae or Freddie Mac.
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The research firm also cut down its price targets for Armour Residential, from $4.25 to $3.25, while maintaining its $8.50 target for Cypress Sharpridge and $7.50 target for New York Mortgage Trust.