On turmoil in the alt-A mortgage market.

• Author: Rees, Matthew
• Position: Real estate and mortgage markets

"Even as credit markets, particularly corporate-debt markets, show some signs of improvement, mortgage loans to supposedly better-heeled Americans are souring at a gut-wrenching rate. Of particular concern are 'Alt-A' mortgages, offered to borrowers sandwiched between subprime and prime. This market was trumpeted as a means of extending home ownership to those, such as the self-employed, with a reasonable credit standing but unsteady income...