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Standard & Poor's has released a new version of LEVELS - a rating and risk modeling software that has been used in the residential mortgage securities market for five years.
The software employs a proprietary loan rating and risk evaluation model that is used by mortgage originators, portfolio managers, MBS underwriters and mortgage insurers, S&P said.
LEVELS gives customers the ability to determine how their loans or portfolios will fit into S&P's various subordination rating tranches, and to benchmark the required loss reserves, as defined by S&P.
The latest version of the software incorporates updated or new rating criteria ...