Fannie Mae 30-year MBS prepaid faster than expected in August. Speeds increased 20% in August from July versus a projection of +14%.

As anticipated, however, 5.5s and lower recorded the largest percentage gains with 2009 and 2008 vintages increasing the most.  The newer vintages are less impaired with the underlying borrowers generally having better FICOs and LTVs to aid them in refinancing. 

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