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Wells Denies that Its Loans Prepay Faster than Others.(Brief Article)
When the prepayment rate on Freddie Mac's mortgage securitizations became higher than Fannie Mae's in a more notable way than usual in April, Wall Street researchers in New York singled out loan concentrations from two large originators as contributing to the trend.
They said those originators, Wells Fargo and ABN Amro, had loans underlying the securities with characteristics that contributed to the faster prepayment speeds in April. (When May's prepayment speeds came in, Freddie Mac's speeds were back in line relative closer to where they normally are vs. Fannie Mae's.)
So what do those two originators have to say about this?
Geoff Dreyer, executive vice president of capital markets and credit for Wells Fargo, said that he believes the April prepayment reports have led to some misunderstanding.
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Source: HighBeam Research, Wells Denies that Its Loans Prepay Faster than Others.(Brief Article)