According to one person familiar with the company, workers who receive layoff notices will likely stay until the end of the year and receive a retention bonus. Alt-A mortgages are loans that are given to customers with minor credit problems or that do not have the documentation to receive traditional, prime mortgages. Washington Mutual will likely take a $4 billion loss provision during the second quarter, after setting aside about $3. Earlier in the session, shares hit a 17-year low of $3,27.