Examples of Alt-A Mortgage Loan in a sentence
Any Prime Mortgage Loan or Alt-A Mortgage Loan that had at the time of origination an LTV in excess of 100% is insured as to payment defaults by a PMI Policy.
At the conclusion of the review, Deutsche Bank’s Diligence Supervisor informed a senior Hybrid ARMs6 Alt-A Mortgage Loan Trader, a Managing Director (hereinafter, “Trader 2”), that [t]his Alt-A/Alt-B pool was the most adverse Alt pool I have seen in 4 years - many of the loans were defaulting on mortgages .
As another example, in January 2007, the Diligence Supervisor recommended to a senior Fixed-Rate Alt-A Mortgage Loan Trader, a Managing Director (hereinafter, “Trader 3”), to increase a 15% sample for a GMAC-RFC $375 million pool.
No Alt-A Mortgage Loan has a CLTV greater than 95% or a FICO score less than 600.
In the case of an Alt-A Mortgage Loan, either (i) the FICO score of the related Mortgagor was at least 600 on the Origination Date or (ii) such Alt-A Mortgage Loan meets the underwriting criteria of a takeout investor acceptable to the Committed Buyer.