Standard & Poor's LEVELS is a dynamic risk analytics system that encompasses residential mortgage loan characteristics, regional economic data and borrower data. LEVELS analyzes a loan (or pool of loans) and assigns a Standard & Poor's Risk Grade™. At the same time, it determines the foreclosure frequency, loss severity and credit enhancements required for securitization. LEVELS analyzes both seasoned loans and new loans.
As of March 17, 2008, LEVELS 6.3 is available for download.
The SPIRE™ Cash Flow model analyzes the effect of variable interest rates on both assets and liabilities associated with structuring residential mortgage backed securities, incorporating Standard & Poor's criteria.
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