BondAgent™ is a structured products software solution designed to generate waterfall cash flows and perform bond analytics utilizing collateral data. It is integrated into the Vision™ platform and leverages MIAC CORE™ models, which are macro-factor driven and focus on loan-level credit and prepay behaviors. The software allows users to customize and analyze the collateral cash flow modeling process, including forensic analysis to understand cash sources and uses, collateral and bond outstanding balances, and the impact of over-collateralization. Users can customize calculations, build waterfall triggers, and add specific fees, reserves, and bonds. The Structure Wizard facilitates planning and visualization of the bond structure. Advanced cash flow risk analytics are integrated, including stochastic analysis of collateral model drivers for cash flow generation, simulating various outcomes for macro-factors like unemployment and house price index. It automates user-defined calibration of stochastic models and produces correlation matrices for selected variables. Price/Yield Tables allow for updates to collateral and bond pricing assumptions, including yield, spread, and price shocks, as well as collateral shocks related to prepayment speed, default, and loss assumptions. Reverse Stress Testing determines specific levels of borrower behavior metrics that result in user-defined bond loss or paydown targets. MIAC utilizes BondAgent™ for Risk Retention analysis, bond price discovery, and generating investor reports for structured finance products.

Features & Benefits

• Cash Flow Modeling: Creates waterfall cash flows and bond analytics from collateral data.
• Customization & Control: Allows detailed control over the structure, customization of calculations, and building of waterfall triggers.
• Advanced Analytics: Integrates stochastic analysis, sensitivity analysis, and reverse stress testing for comprehensive risk assessment.
• Risk Management Tools: Supports risk retention analysis, bond price discovery, and investor report generation.