content_image/265678.jpg content_image/265687.jpg content_image/265686.jpg
<img src='content_image/265678.jpg'>

SSNR – super senior 2 

SNR – senior 3 

MEZZ – mezzanine 4 

SSUP – senior support 

## Alt-A Mortgage Exposure 

AEGON USA’s RMBS exposure includes exposure to securitized home equity loans (Alt-A positions). This portfolio totals EUR 701 million at December 31, 2010 (2009: EUR 667 million). Net unrealized losses amount to EUR 28 million at December 31, 2010 (2009: EUR 195 million). Alt-A loans are made to borrowers whose qualifying mortgage characteristics do not meet the standard underwriting criteria established by the GSEs. The typical Alt-A borrower has a credit score high enough to obtain an ’A‘ standing, which is especially important since the 

score must compensate for the lack of other necessary documentation related to borrower income and / or assets. 

AEGON’s investments in Alt-A mortgages are in the form of mortgage backed securities. AEGON's Alt-A investments are primarily backed by loans with fixed interest rates for the entire term of the loan. The tables below summarize the credit quality of the underlying loans backing the securities and the vintage year. 

<img src='content_image/265687.jpg'>

<img src='content_image/265686.jpg'>

