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June 27, 2008
Alt-A Slips Again
None of the country's top 15 alternative-A lenders recorded an increase in business volume during the first quarter of 2008. Eight of the top lenders had declines of more than 80 percent--including Wells Fargo and Wachovia Mortgage, which had 99 percent declines in volume in the first quarter compared to a year ago. Bank of America had the highest dollar value, with a volume of $20.15 billion in alt-A lending in the first quarter. In the last three months of 2007, the top alt-A lenders saw volume decline an aggregate 87 percent.
Posted by S. Germain at June 27, 2008 08:18 AM