Alt-A Availability Erratic - Mortgage Forums for Mortgage Brokers

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Alt-A Availability Erratic

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08-06-2007, 04:02 PM

Veronica Corningstone Veronica Corningstone is offline

Corner Window Office

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Alt-A Availability Erratic

Superior Mortgage, citing "extreme volatility in the Alt-A market," decided late last week to not lock-in pricing for wholesale Alt-A loans until confirmed with investors, according to an e-mail message sent to brokers and confirmed by the company. Wachovia Mortgage discontinued Alt-A mortgages in the wholesale market altogether, Wachovia told MortgageDaily.com. National City Home Equity has suspended approvals of additional loans or lines of credit, the company stated in a statement to MortgageDaily.com.

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