Tax Refunds Contributing to Prepayment Rise, CSFB Says
July 9, 2001
Borrowers with expiring prepayment penalties are apparently taking advantage of the chance to refinance, as repayment rates have kicked upward recently. But analysts at a Wall Street investment house say that public policy might also have a hand in the speed increase. In a June 28 report, Credit Suisse First Boston reported that prepayments are speeding up on all vintages of fixed-rate subprime mortgages dating back to 1995. The most marked increase was found in