HFA voluntary prepayment ratios to generic counterparts were flat to slightly lower except for a slight uptick in 2.5s in December. New prod Tier 3 ratios (especially in 2.5 and 3.5 coupons) continued to be pushed up more notably by speeds on the UT and AZ programs. These ratios for new production Tier 1 remain in the single digits to teens percent, and Tier 2 in the 20s to 30s percent. Tier 3 ratios range from 65 to 120 percent in aggregate depending on the coupon.

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