Prepayment Trends
The overall prepayment speeds by issuer are shown in Chart 1 below.

For this study we looked at deals issued since January 2000. Any older deals were not included for modeling purposes. We see from Chart 1 that most issuer prepayments have followed a similar trend. However, we feel that there are enough differences to warrant a separate model for each issuer.

The next charts show a few interesting trends we observed for some of the issuers. These and other trends will be discussed in detail in a subsequent paper. >>>