Near the end of the U.S. housing boom, many of the mortgages classified as Alt-A were in fact sub-prime.

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This is true. During the housing boom, many lenders relaxed their underwriting standards and issued mortgages to borrowers with lower credit scores and higher risks, categorizing them as Alt-A instead of sub-prime. However, when the housing market crashed, it was discovered that many of these Alt-A mortgages were in fact sub-prime and had a much higher likelihood of defaulting.

Near the End of the U