(Reuters) - Formerly known as United Financial Mortgage Corp., Alliance
said it specialized in "Alt-A" home loans. Short for
"Alternative-A," these often go to borrowers who cannot provide
full documentation of income or assets, and are considered to
fall between "prime" and "subprime" in quality.
In a letter posted on Alliance's Web site, Chief Executive
Lisa Duehring said "the latest market was more than we were
able to overcome. We have exhausted our resources." She said
the company ceased operations on July 13.
Read more at Reuters.com Bonds News
said it specialized in "Alt-A" home loans. Short for
"Alternative-A," these often go to borrowers who cannot provide
full documentation of income or assets, and are considered to
fall between "prime" and "subprime" in quality.
In a letter posted on Alliance's Web site, Chief Executive
Lisa Duehring said "the latest market was more than we were
able to overcome. We have exhausted our resources." She said
the company ceased operations on July 13.
Read more at Reuters.com Bonds News
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