This chapter discusses building a new risk assessment and valuation model using the Structuring model. The new model preserves certain key features of the Structuring model while discarding others that have no relevance to the new application. The model produces stratification reports on the current collateral in the deal. As prepayments and defaults occur, it keeps track of these loans and understands the composition of those two populations. For this reason, the collateral stratification report feature of the Structuring model is retained. A number of its calculation subroutines are modified to reflect the mix of information that the new model will use. Because the Structuring model projected 100% of its cash flows, the Risk Assessment model uses a mix of historical cash flows from the performance of the collateral pool to date and a set of projected cash flows for the future periods of the deal.