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Examples
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Early in March, it raised $500 million by selling stock so it could buy so-called "prime" and "alt-a" bonds, which are bonds backed by mortgages taken out by borrowers with generally better credit than subprime borrowers.
Subprime Bonds Are Back Matt Wirz 2011
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Credit Suisse reported (2007) that 49% of new originations in 2006 were "alt-a" loans (i.e., liar's loans).
William K. Black: How Did a Relatively Small Number of Subprime Loans Cause a Record Crisis? William K. Black 2011
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While the nonprime mortgage industry's preferred euphemisms were "alt-a" and "stated income" loans, it was the industry that accurately dubbed them liar's loans.
William K. Black: How Did a Relatively Small Number of Subprime Loans Cause a Record Crisis? William K. Black 2011
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It creates a false dichotomy between "alt-a" and "subprime" based on reported FICO scores which it implicitly assumes to be real.
William K. Black: How Did a Relatively Small Number of Subprime Loans Cause a Record Crisis? William K. Black 2011
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There were, and are, no official definitions of the loan categories "alt-a", "subprime", or the many hybrid forms
William K. Black: How Did a Relatively Small Number of Subprime Loans Cause a Record Crisis? William K. Black 2011
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The industry's formal euphemisms for liar's loans were "alt-a" and "stated income" loans.
William K. Black: 2011 Will Bring More de Facto Decriminalization of Elite Financial Fraud William K. Black 2010
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The industry's formal euphemisms for liar's loans were "alt-a" and "stated income" loans.
William K. Black: 2011 Will Bring More de Facto Decriminalization of Elite Financial Fraud William K. Black 2010
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Relaxed Underwriting standards and instructions from the Fed for Fannie & Freddie to be able to hold more sub-prime/alt-a/non-prime/etc paper in an attempt to help minorities increase the levels of home ownerships across their demographic were the Apothecary's potion that doomed all these Wall-Street heavy-hitters and their ESOP-heavy employees ...
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The industry's formal euphemisms for liar's loans were "alt-a" and "stated income" loans.
William K. Black: 2011 Will Bring More de Facto Decriminalization of Elite Financial Fraud William K. Black 2010
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It also needs to be stressed that subprime and alt-a loans, qualifying loans based on teaser rates, bonuses to loan officers based on volume (not loan quality), inflated appraisals, and accounting control fraud are not new.
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