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31 May 2016 Subprime mortgages go to borrowers with lower credit scores and – to make up for the added risk – lenders charge higher interest rates on them. Alt-A mortgages are loans that fall somewhere in between the prime and subprime category in terms of risk and interest rates. 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 and subprime home loans, although there is no single accepted definition of 20 Mar 2018 Prime is a classification of borrowers, rates or holdings in the lending market that are considered to be of high quality. 18 Jun 2018 No-ratio mortgages generally fall under the Alt-A classification. Alt-A mortgages have a higher risk profile than the standard home mortgage, 28 Jun 2018 Alternative documentation is a documentation process designed to expedite loan approval where the lender accepts certain documents from the borrower documents as verification of income made on the loan application. Alternative documentation involves the borrower providing an 18 Jun 2018 SISA loans are one loan in a category of products called Alt-A. SISA loans are also known as no income-no asset (NINA) loans and liar loans. Short for Alternative-A paper. Alt-A are loans that are considered riskier than prime loans but less risky than subprime loans. Generally made to individuals with a27 Mar 2018 Alt-A is a classification of mortgages with a risk profile falling between prime and subprime. These loans are usually issued to top credit quality borrowers with good credit histories. However, they usually have some high risks due to provision factors customized by the lender. 8 Mar 2018 Low-documentation mortgages usually fall into the Alt-A category of mortgage lending. Alt-A lending depends heavily on a borrower's credit 16 Jan 2019 Applicants with low credit scores or other risk factors are offered rates by lenders that are significantly higher than the prime rate – hence the term subprime loan. The specific amount of interest charged on a subprime loan is not set in stone. Different lenders may not evaluate a borrower's risk in the same manner.