Your name saw this post on The ActiveRain Real Estate Network and thought it might be of interest to you. Please see the link below to review the post.

Alt-A 2005 - A Look Back at Popular Loan Programs
Here's a look at some of the loan programs available in 2005 to finance Arizona residential real estate, and where they are now.  Alternative-A (Alt-A) reduced documentation programs (stated income, no ratio, no doc...) made up a majority of new loan originations until mounting defaults resulted in servicing challenges and the loss of demand for securitized mortgage product (towards the end of 2006). 
It is estimated that 85% or more of all mortgages originated in 2009 are now closed with full documentation methods.  Securitizers and rating agencies have raised the bar for entry into homeownership, requiring applicants to prove ability to repay the mortgage note. The mortgage lending industry has began to regain confidence among fixed income investors by appropriately measuring risk and providing transparency to bond holders and consumers.   
Agency full documentation  
Owner Occupied 100% LTV with mortgage Insurance required or 80/20 combo.  Ficos generally started at 620 but some programs allowed minor credit blemishes and FICOs over 580
 2009 - 80/20 combos are gone (100% second liens are not available). Max financing is 95% in AZ on a limited basis due to restrictions on Mortgage Insurance. Second Homes 95% LTV with a 620 FICO and two months reserves / mortgage Insurance required or 90/15 combo
2009 - ... more

__________________________________________________
Are you on The Rain? Grow Your Network!