Here is a screen capture from the Bloomberg Terminal, of a particular batch of securitized Alt A mortgage loans made by Washington Mutual.
So what does all those numbers mean?
I think the key trend is if you look at the data for every month.
Especially the REO percentage (REO means the bank has already taken back the house). Went from 0.04% of the entire portfolio in Nov 07 to 10.48% in June 08. Amazing.
And look at the credit score of the applicants. They were 704 points. Supposedly very safe... umm...