Santa Ana, Calif.-based CoreLogic has introduced RiskModelDIRECT, a new way for both large and smaller banks and investors to access CoreLogic RiskModel advanced prepayment, default, severity and delinquency risk projections for non-agency residential mortgage-backed securities (RMBS).
According to the company, RiskModelDIRECT is a subscription-based analytics service that produces RMBS portfolio risk projections using CoreLogic data that covers more than 97% of the non-agency RMBS market and incorporates the CoreLogic home price index (HPI) and HPI forecasts into its proprietary models. Designed for investors and managers who want the analytics without the overhead, RiskModelDirect delivers collateral reports and scenario-based projections based on 20 macroeconomic scenarios and applies the same data and statistical modeling techniques used by large sophisticated investors, the company adds.
In addition, RiskModelDIRECT integrates CoreLogic HPI data to isolate future default risk by calculating current ZIP code or core-based statistical area (CBSA)-level loan-to-value (LTV) estimates as well as HPI forecasts for more than 200 CBSAs. The RiskModelDIRECT vectors can be used in structured finance analysis tools or be fully integrated with bond valuation solutions from select third party servicers.
