Alt-A: The New Home of Subprime?

"At the same time Alt-A volume is creeping up, its credit quality shows some signs of deteriorating. The implication is that loan production that would, last year, have ended up in a subprime security is migrating into Alt-A securities." -- A great primer on Alt-A, and the threat it presents for the mortgages market. Supports what we've been pointing out here for months.