S&P Doing the Nasty on $280 Billion in Alt-A…Largest Ever

"S&P remains ahead of the impending Alt-A and Jumbo Prime Implosions with their largest potential downgrade ever. Just to clarify, Alt-A is mostly limited documentation products and the now infamous Pay Option ARM. Jumbo Prime refers to prime loans with amounts over the Fannie/Freddie conforming limits including loans such as the 5/1 Interest Only. Wells Fargo Bank, Chase and Citi were a few of the largest Jumbo Prime and Alt-A large-named lenders in the nation for example."