Standard & Poor's has announced the commercial release of SPIRE, a proprietary cash flow modeling system for residential mortgage-backed securities.SPIRE (Standard & Poor's Interest Rate Evaluator) provides access to the same tools used by S&P analysts to obtain "rapid feedback" on possible RMBS securitization structures, S&P said. Used in conjunction with other S&P models, SPIRE analyzes the effect of variable interest rates on assets and liabilities associated with structuring RMBS. It incorporates S&P's collateral and cash flow modeling criteria for foreclosure frequency, loss severity, and loss coverage requirements, as well as vectors for voluntary prepayments and interest rate risk, the company said.
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2h ago -
The San Diego company was back in the black with a net income of $28.5 million in the first quarter of 2024, up from a net loss of $93 million the previous quarter.
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The agreements at the heart of the hearing did not cover the one reached with the National Association of Realtors or those people that only bought homes.
May 9 -
Feds say Chicago businessman Mark Steven Diamond defrauded at least 80 victims and caused at least $6 million in losses.
May 9 -
Fannie Mae's tool, used by originators to determine income levels for self-employed borrowers, aims to help them avoid potential underwriting errors, the government-sponsored enterprise said.
May 9 -
The 30-year fixed rate mortgage fell for the first time in six weeks as the Federal Open Market Committee meeting outcome is finally priced in.
May 9