CalculatedRisk describes the evolution of the underwriting process for alt-a (just below prime) and subprime (junk status) mortgage loand. It is a dense read, but to me clearly makes a case that it would be imprudent at this time to invest in mortgage backed securities that include alt-a or subprime mortgages. The underwriting process is just too broken.
This entry was posted by David on March 19, 2007 at 9:47 am, and is filed under Investing. Follow any responses to this post through RSS 2.0.Responses are currently closed, but you can trackback from your own site.