Alt A loans - experience?

[Mimi H.]

Hi friends,

I find myself in a really odd position and thinking about an ALT a mortgage. I've really gone from full-time employment to a contract position but have less than one year of self employment history and as a result cannot seem to qualify for a conventional A paper loan despite great financials and solid assets. 

You can imagine how annoyed I am about this. Would love to hear more about other people's experiences, especially in California.

This would be for an owner-occupied residence in CA. 

Thanks!