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Home » Store » Taxable » Verbal Verification Prevails in Alt A, S&P Says

Verbal Verification Prevails in Alt A, S&P Says

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Most lenders in the Alternative A market are verbally verifying borrower income, a new report by rating agency Standard & Poor’s reveals. Commenting on trends in the Alt A sector, S&P noted that borrower income was verbally verified on 61 percent of the loans backing deals that it rated in the third quarter. On some 25 percent of loans, lenders had verified at least 24 months worth of income, while just 6 percent verified…
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