Alt-A Loan means a Mortgage Loan (other than a Conforming Loan, a Jumbo Loan or a Subprime Loan) that (1) does not conform to the conventional underwriting standards of Xxxxxx Xxx, Xxxxxxx Mac or Xxxxxx Mae but that is underwritten by an Approved Investor (other than Xxxxxx Xxx, Xxxxxxx Mac or Xxxxxx Mae), within guidelines generally acceptable to industry norms for “Alt-A” loans and (2) has a demonstrated secondary market.

Alt-A Loan means a Mortgage Loan (other than a Jumbo Loan or a Conforming Loan) that (1) does not conform to the conventional underwriting standards of Xxxxxx Xxx, Xxxxxxx Mac or Xxxxxx Mae but that is underwritten to Approved Investor guidelines (other than Xxxxxx Xxx, Xxxxxxx Mac or Xxxxxx Mae, within guidelines generally acceptable to industry norms for "Alt-A" loans, (2) has a demonstrated secondary market and is readily securitizable, (3) matches all applicable requirements for purchase under the requirements of a Take-Out Commitment specifically issued for the purchase of such Mortgage Loan, and (4) is a First Lien Mortgage Loan. D1-1

Alt-A Loan means a Mortgage Loan (other than a Conforming Loan or a Jumbo Loan) that (1) does not conform to the conventional underwriting standards of Xxxxxx Xxx, Xxxxxxx Mac or Xxxxxx Mae but that is underwritten in a manner designed to be purchased by an Approved Take-Out Investor (other than Xxxxxx Xxx, Xxxxxxx Mac or Xxxxxx Mae), within guidelines generally acceptable to industry norms for “Alt-A” loans, (2) has a demonstrated secondary market and is readily securitizable, and (3) matches all applicable requirements for purchase under the requirements of a Take Out Commitment or Hedge specifically issued for the purchase of such Mortgage Loan.

Examples of Alt-A Loan in a sentence

No later than 3:00 p.m. (eastern time) the Servicer shall furnish to the Managing Agents and the Collateral Agent a report substantially in the form of Exhibit Q hereto, regarding Alt-A Loan compliance and Jumbo Loan compliance, including without duplication with the weekly reports set forth in Sections 3.6 and 3.7.
Section B., DEFINITIONS, is amended by adding the following: Alt-A Loan means a loan extended, granted, originated, or underwritten without a borrower's having to provide, with respect to one or more elements of income (including, without limitation, salary or wages), independent written documentation verifying the borrower's income (including, without limitation, a pay check, pay stub, or wage statement).
Notwithstanding the foregoing, if any Conforming Loan or Alt-A Loan is a Hedged Loan and not a Specific Covered Loan, the Assignment shall so indicate.
Alt-A Loan A type of loan in which the risk is greater than prime loans but less than subprime due to a lack of full documentation.
Refinances Purchases Less-Than-A Quality Loans - Structured Channel Less-Than-A Quality Loans – Flow Channel Less-Than-A Quality Loans as a percentage of Total Primary NIW Alt-A Loans – Flow Channel Alt-A Loans as a % of Total Primary NIW Alt-A Loan – Structured Channel With the exception of previous commitments, effective October 1, 2007, PMI discontinued insuring loans with LTVs above 97% and FICO scores below 620.

More Definitions of Alt-A Loan

Alt-A Loan means a Loan that satisfies the guidelines for such loans set forth in the Underwriting Guidelines.

Alt-A Loan means a Single-family Mortgage Loan (whether an amortizing closed end Mortgage Loan or a HELOC), that satisfies the Companies’ Underwriting Guidelines for an “A” credit grade and would qualify as a “Prime Loan” under this Agreement except that it is not eligible for purchase by Xxxxxx Mae, Xxxxxx Xxx or Xxxxxxx Mac.

Alt-A Loan means a Loan: (i) the entire interest of which is owned by the Company; (ii) which is a First Mortgage Loan; (iii) which is not an FHA or VA loan; and (iv) which conforms to the underwriting criteria of Approved Investors for loans which are commonly referred to in the secondary market as "Alt A" loans, as defined by the Agent; provided: (a) such Loan shall have a FICO score equal to or in excess of the requirements of the applicable Approved Investor, but in no event, less than 580; (b) such Loan shall not have a combined loan-to-value ratio at origination greater than [95%;] (c) such Loan has a face amount of less than one million dollars ($1,000,000.00); (d) such Loan is covered by a take-out commitment from an Approved Investor; (e) such Loan is pledged as Collateral within thirty (30) calendar days of origination, purchase or conversion, (f) such Loan has no more than one (1) principal/interest payment past due and (g) such Loan is not an Aged Loan.

Alt-A Loan means a Single Family Mortgage Loan which (a) is secured by a first-lien Mortgage, (ii) is not a Conforming Mortgage Loan, FHA Loan or VA Loan, (iii) has an original principal balance of less than or equal to the current FNMA/FHLMC loan size limit, (iv) is a Limited Documentation Mortgage Loan, (v) has a FICO score greater than or equal to 620, and (vi) has a LTV less than or equal to 100%.

Alt-A Loan means a Mortgage Loan (other than a Conforming Loan or a Jumbo Loan) that (1) does not conform to the conventional underwriting standards of Fannie Mae, Freddie Mac or Ginnie Mae but that is underwritten in x xxxnxx dexxxxxx to be puxxxxxxd by an Approved Take-Out Investor (other than Fannie Mae, Freddie Mac or Ginnie Mae), within guidelines generalxx xxxexxxblx xx xxdustry nxxxx xor "Alt-A" loans, (2) has a demonstrated secondary market and is readily securitizable, and (3) matches all applicable requirements for purchase under the requirements of a Take Out Commitment or Hedge specifically issued for the purchase of such Mortgage Loan.

Alt-A Loan means a Mortgage Loan (other than a Conforming Loan or a Jumbo Loan) that (i) does not conform to the conventional underwriting standards of FNMA, FHLMC or GNMA but that is underwritten in a manner designed to be purchased by an Approved Takeout Investor (other than FNMA, FHLMC or GNMA), within guidelines generally acceptable to industry norms for "Alt-A" loans, (ii) has a demonstrated secondary market and is readily securitizable, and (iii) matches all applicable requirements for purchase under the requirements of a Takeout Commitment specifically issued for the purchase of such Mortgage Loan.

Alt-A Loan means a Mortgage Loan (other than a Conforming Loan or a Jumbo Loan) that (1) does not conform to the conventional underwriting standards of Xxxxxx Mae, Xxxxxxx Mac or Xxxxxx Mae but that is underwritten by an Approved Investor (other than Xxxxxx Xxx, Xxxxxxx Mac or Xxxxxx Mae), within guidelines generally acceptable to industry norms for “Alt-A” loans, (2) has a demonstrated secondary market and is readily securitizable, (3) has an original principal balance less than $650,000, and (4) either matches all applicable requirements for purchase under the requirements of a Loan Specific Take-Out Commitment or is covered by a Hedge.