CoreLogic today unveiled its bond assessment service for non-agency residential mortgage-backed securities (RMBS).

The service will provide credit ratings of non-agency RMBS across product type, vintage and tranche position, with credit grades ranging in descending order from ‘AAA’ through ‘D’. The ratings will not be regulated by the U.S. Securities and Exchange Commission as a Nationally Recognized Statistical Rating Organization instead CoreLogic said that their ratings are designed to add another layer of transparency for bond investors.

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