24.6.3. After a thorough audit, concerns were raised about the credit risk assessment methodologies applied by the credit risk department on the borrowers of Mancus Lending Group Limited. Mancus, a UK-based financial institution, is a key player in the real estate lending market, serving a broad range of borrowers, from individual homeowners to major real estate developers.

To address these concerns, a special board meeting was called to explore and select a new credit risk model. Notably, three board members proposed different alternatives based on their potential benefits for Mancus's complex lending environment.

• Moe: "We can't overlook the human element. Our judgment is nuanced, capable of catching what models might miss, especially in the real estate sector."
• Larry: "Historical data is key. With CreditMetrics™, we have a systematic way to estimate defaults, applying a robust Value-at-Risk framework that's proven effective."
• Curly: "But consider the Merton Model's precision. It uses market data to assess the risk, bringing a level of financial insight that traditional methods can't."

Which statement(s) accurately represent the approaches being discussed?