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Standard & Poor's SPIRE® Cash Flow Model analyzes the effect of variable interest rates on both assets and liabilities associated with structuring residential mortgage backed securities. SPIRE can determine if available funds derived each month from a loan or pool of loans are sufficient to satisfy a capital structure's bond liabilities.
The SPIRE® Cash Flow Model can verify and confirm that the rated bond classes of a structured deal will receive timely interest and principal payments, despite any losses and other stresses incurred by the collateral pool associated with a Standard & Poor's rating.
The model uses advanced technology to allow a user to automatically solve for the most optimized capital structure and over-collateralization target, given the cash collections from the asset pool, Standard & Poor's criteria assumptions, and the structured bond liabilities.
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