Automated loan evaluation system

Details Automated loan evaluation system Automated loan evaluation system

2007-12-18

2007-12-18

Kazimi, Hani M. (Department: 3691)

Data processing: financial, business practice, management, or co

Automated electrical financial or business practice or...

Finance

Reexamination Certificate

active

09790374

ABSTRACT:
In at least one aspect, the present invention comprises a system and method of creating a probability of delinquency database using historical loan data and a plurality of loan factors, for use in determining a loan rate, the method comprising: identifying a plurality of multi-level loan factors; creating a pool from the historic loan data, wherein the first pool contains records relating to the plurality of multi-level loan factors; separating the pool into a set of groups based on the multi-level loan factors, calculating a probability of delinquency for each group; and arranging the probability of delinquency for each group into a database such that the probability of delinquency for each group is accessible for any combination of multi-level loan factors.

REFERENCES:
patent: 5611052 (1997-03-01), Dykstra et al.
patent: 5870721 (1999-02-01), Norris
patent: 6567791 (2003-05-01), Lent et al.
patent: 2001/0032158 (2001-10-01), Starkman
patent: 2001/0032159 (2001-10-01), Starkman
The Price of Mortgage: OFHEO, 1997, Report to Congress.
FDIC: National Regional Outlook, First Quartr 1999: Hihg Loan-to-Value Lending: A New Frontier in Home Equity Lending.

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