Kevin Jackson, analyst at RBC Dain Rauscher, in today's comments suggests for investors to look into GL/GO reperforming pools, which are sectors that currently offer comparable prepayment protection. He explained that GL pools are agency wrapped FHA/VA loans and GO pools are repackaged delinquent FHA/VA loans.
For example, Jackson said that considering that a loan was previously delinquent and has made it back to current status makes it more difficult for that loan to refinance going forward. Aside from this, these pools usually have lower average loan balances. This also makes them a good generic alternative.