Irvine, Calif.-based CoreLogic is now offering CoreLogic Bond Tracker, a bond assessment service for non-agency residential mortgage-backed securities (RMBS).
According to the company, CoreLogic Bond Tracker will provide life-of-bond surveillance and aid investors, banks and other institutions in valuing and assessing the credit risk of mortgage securities. CoreLogic Bond Tracker will incorporate a wide range of risk factors including property value changes and other market-impacting events.
The service includes a sensitivity score ranging from one to five, assessing the likelihood of credit grade migration due to deviation of future performance from projected bond cash flows. CoreLogic Bond Tracker also publishes cohort-level assessments on approximately 23,000 non-agency bonds.
‘Today, investors are looking for greater transparency into the quality and risks of the collateral backing non-agency bonds, and issuers are looking for new ways to rebuild investor confidence,’ says Ben Graboske, senior vice president of real estate and financial services for CoreLogic. ‘We believe CoreLogic Bond Tracker will appeal to both groups.’