During the boom years, mortgage lenders paid Fannie Mae and Freddie Mac a small fee for accepting stated-income loans. Today those lenders are paying a whole lot more.

Loan-buyback requests from the GSEs are mounting, and Alt-A loans are at the center of many disputes. At issue are the terms of the GSEs' reduced-documentation programs and who should be responsible for a loan product that most industry experts now concede never should have been mass marketed in the first place.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.