In a bid to lure wary investors back to mortgage securities, Bank of America will offer fixed-rate loans with prepayment penalties next year. The loans will be securitized by Fannie Mae and eventually offered by Wall Street.

The penalties are intended to discourage consumers from refinancing their home loans for the first three years of the life of the loans. The penalties would equal 2% of 80% of the outstanding loan amount, or $1,600 on the typical loan of $100,000. To entice consumers, rates on these loans would be shaved by an eighth to a quarter of a percent.

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