The prepayment rate on vintage jumbo mortgages serviced by Wells Fargo is outpacing the industry average by a wide margin, according to an analysis by Bank of America Merrill Lynch. A lower level of loan modifications by Wells appears to be driving the trend. BAML noted that prepayment rates on jumbo mortgages in vintage non-agency mortgage-backed securities have followed a stable trend in the last three years. However, since 2013, Wells-serviced jumbo fixed-rate ...
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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