...oans in arrears by more than three months as a percentage of the current balance were 81bp in May 2015 compared to 83bp 12 months before. This decrease is due to a higher number of properties foreclosed in the non-conforming pools. Tick-up in Prepayments: Declining mortgage rates have caused a spike in prepayments in some transactions, as borrowers coming to the end of their fixed-rate terms opt to refinance at lower rates. Private Sales Outperform Auctions ...