Alt-A

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 eligible for purchase by Fannie Mae or Freddie Mac. Alt-A interest rates, which are determined by credit risk, therefore tend to be between those of prime and subprime home loans, although there is no single accepted definition of Alt-A. Typically Alt-A mortgages are characterized by borrowers with less than full documentation, lower credit scores, higher loan-to-values, and more investment properties. A-minus is related to Alt-A, with some lenders categorizing them the same, but A-minus is traditionally defined as mortgage borrowers with a FICO score of below 680 while Alt-A is traditionally defined as loans lacking full documentation. Alt-A mortgages may have excellent credit but may not meet underwriting criteria for other reasons. During the past decade, a significant amount of Alt-A mortgages resulted from refinancings, rather than property purchases.

Alt

Alt or ALT may refer to:

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Places and geographical features

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Music

Çaltı

Çaltı is a belde (town) in Söğüt district of Bilecik Province, Turkey. Situated at 40°03′N 30°15′E / 40.050°N 30.250°E / 40.050; 30.250 it a few kilometers south of Sakarya River. The distance to Söğüt is 10 kilometres (6.2 mi) and the distance to Bilecik is 38 kilometres (24 mi). The population of Çaltı was 1293 as of 2013. The settlement was founded by Yörüks (Nomadic Turkmens) . The name of the town refers to a scrubby (Turkish: çalılık) hill at the east of the town .The settlement was declared a seat of township in 1972.

References

American Student Assistance

American Student Assistance (ASA) is a non-profit organization whose mission is to help students successfully complete the financing and repayment of higher education by acting as a student loan guarantor. It is headquartered in downtown Boston, Massachusetts.

History

American Student Assistance was founded in 1956 under the name Massachusetts Higher Education Assistance Corporation (MHEAC). The organization began when a group of people approached Massachusetts local businesses for philanthropic donations with the idea of creating a pool of money to guarantee loans for higher education. MHEAC went on to become the nation’s first student loan guarantor. Its model of a student loan program—funded by local banks and insured by a non-profit organization—was replicated across the country and by 1965, there were 14 loan guarantors in the United States.

In 1990, the United States Department of Education designated MHEAC as the guarantor for Washington, D.C. By 1992, MHEAC had begun to expand its services nationwide, so the organization adopted a trade name of American Student Assistance to reflect that its services were available to U.S. student loan borrowers everywhere.