Thanks for the great insider info PB, and it leads me to my question. Looking at all the charts available on line regarding the breakdown of the mortgages out there, isn’t there a substantially larger sum of money in absolute terms in the Alt-A market? All you hear on the news today is Subprime this, Subprime that (Fox News in the backround just said it twice), but don’t the Alt-A loans generally involve a lot more jumbos and ARMs used as affordability tools? It seems everyone I know in SD with a loan made in the last 3 years qualifies as an Alt-A. My mind is a medically trained one, not a finacial one, and I’ve been addicted to these posts the last few weeks trying the correct this deficiency in my knowledge base, and it seems that Alt-A has a much higher potential to dent the economy than the Subprime “crisis”.