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MORTGAGE PLATFORM FOR INVESTMENTS & REINSURANCE

Milliman M-PIRe

A comprehensive platform to evaluate mortgage investment opportunities, trends in the market, and portfolio aggregation

OVERVIEW

A better, faster way to see risk and profitability in the CRT market.

Milliman M-PIRe™ is a flexible web-based tool that provides clients with an automated and controlled process to efficiently evaluate and manage their exposure to the mortgage market. For credit risk transfer opportunities, the platform includes all of the data, models, and reporting tools required for both bonds and insurance exposures. The platform offers clients maximum flexibility and customization to meet their specific needs.

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ADVANTAGES

M-PIRe advantages

EVALUATION FRAMEWORK

One holistic platform

For one transaction, or for a portfolio of exposures, M-PIRe allows users to perform all the necessary functions required to sufficiently evaluate an opportunity including: detailed collateral reviews, modeling the deal structure, perform deterministic and stochastic scenarios, and monitor risk trends developing within the mortgage market.

Review collateral

Understand seasoning, geographic distribution, and concentration of risk factors

Model collateral & review results

  • Use proprietary loan-level econometric model to generate performance estimates
  • Evaluate drivers of risk through deterministic baseline and stress scenarios

Run simulation model & extract structure cash flows

  • Use M-PIRe’s simulation model to create a stochastic perspective around baseline estimates
  • Review performance of each tranche/insurance contract within the deal structure

Aggregate portfolio participation

Reflect transaction participation amounts and correlation to generate portfolio view

BENEFITS

M-PIRe benefits

Consulting

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INDEX

Milliman Mortgage Default Index: 2023 Q3

Mortgages expected to become delinquent in the future rose to 3.10% in Q3, up from 3.03% in Q2, according to the latest Milliman Mortgage Default Index (MMDI).

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Milliman Mortgage Default Index, Q1 2020

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Interact with the MMDI, Q1 2020

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Article

In it for the long-haul: A case for the expanded use of the GSEs' reinsurance CRT executions

COVID-19's impact on the CRT markets

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Portfolio risk management Repurchase risk for non-QM mortgages

In the wake of the 2008 global financial crisis, many risk managers were caught flat-footed with representations and warranties exposure, also commonly known as repurchase exposure.

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M-PIRe housing market insights: A tale of two metros

What is the current state of housing markets and what are some possible future trends?

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Critical Point Episode 26: COVID-19 and the mortgage credit risk market

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Resources

M-PIRe resources

Brochure

M-PIRe brochure

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