The Return of Alt-A?

Kirsten Grind writes at the WSJ: Crisis-Era Mortgage Attempts a Comeback These mortgages, which are given to borrowers that can't fully document their income, helped fuel a tidal wave of defaults during the housing crisis and subsequently fell out of favor. Now, big money managers including Neuberger Berman, Pacific Investment Management Co. and an affiliate of Blackstone Group LP are lobbying lenders to make more of these "Alt-A" loans ... ... There has also been a rebranding effort: Most lenders prefer to call these products "nonqualified mortgages" due to the stigma attached to the Alt-A......(read more)

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