1. A computerized method for evaluating risk in asset backed securities, the method comprising: receiving by a processor a first data set associated with an asset pool of an asset backed security (ABS), the first data set including at least a set of actual data collected over a period of time and derived from the asset pool and credit score data related to the asset pool; applying a migratory pattern predictive model to at least a part of the first data set, including the set of actual data and the credit score data, and based upon the application of the migratory pattern predictive model, determining by the processor a rating concerning a relative risk associated with the ABS.