The prepayment research team at Banc of America Securities received a potent shot in the arm last week with the hire of mortgage researcher and analyst Warren Xia, who left a three-year stint at Credit Suisse First Boston to become a principal in BofA's quantitative MBS research group.

Xia, who holds a Ph.D. in physics from Michigan State University, will be responsible for analyzing prepayments on the investment bank's agency, non-agency and subprime issuance.

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