credit_class

The credit class designation as defined by the servicer.

For additional details refer to: https://www.federalreserve.gov/apps/reportingforms/Report/Index/FR_Y-14M

├── alt_a
├── government_owned
├── non_prime
└── prime

alt_a

Alt-A is a classification of mortgages with a risk profile falling between prime and subprime. They can be considered high risk due to provision factors customized by the lender. This type of loan tends to be more expensive for the borrower, as they may carry higher interest rates and/or fees. Refer to https://www.investopedia.com/terms/a/alt-a.asp.

government_owned

A mortgage loan that is owned or guaranteed by a government entity such as Fannie Mae, Freddie Mac, or Ginnie Mae, or other government-sponsored enterprises.

non_prime

Non-Prime loans are not A-Paper as defined as Qualified Mortgages and have sub standard credit and income leniency guidelines. Non-Prime loans typically are made to borrowers who have recent negative credit which impacted financial events such as Foreclosure, Bankruptcy, Short Sale, Collections, and Charge-Offs.

prime

Prime is a classification of borrowers, rates, or holdings in the lending market that are considered to be of high quality. This classification often refers to loans made to high-quality prime borrowers that are offered prime or relatively low interest rates. Refer to https://www.investopedia.com/terms/p/prime.asp.