alt-A loan

alt-A loan definition - business

alt-A loan

Credit provided to someone with a generally clean credit record but who suffers some deficiency such as incomplete documentation, an unsteady income, or an inability or unwillingness to make a regular down payment. Alt-A loans fall between prime loans and subprime loans, although the actual boundaries are vague.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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