Methods and systems of predicting mortgage payment risk

Details Methods and systems of predicting mortgage payment risk Methods and systems of predicting mortgage payment risk

2011-06-16

2011-11-22

Colbert, Ella (Department: 3694)

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

Automated electrical financial or business practice or...

Finance

C705S035000, C705S038000

Reexamination Certificate

active

08065234

ABSTRACT:
Disclosed herein are methods and systems for detecting a risk of payment default. In various embodiments, the systems/methods receive mortgage data associated with a mortgage application of an applicant, generate one or more models based on data related to historical mortgage transactions and determine a payment default risk score based at least partly on the one or more generated models, the mortgage data associated with the mortgage application, and the credit data related to the applicant. In another embodiment, a system is disclosed for selecting mortgage applications for further fraud evaluation based on the determined risks of early payment default associated with the mortgage applications and performing the fraud evaluation on those selected mortgage applications.

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“New Business Uses for Neurocomputing”, I/S Analyzer, Feb. 1990, vol. 28, No. 2, 15 pages.
Ghosh, Sushmito and Reilly, Douglas L., “Credit Card Fraud Detection with a Neural-Network”, IEEE 1994, pp. 621-630.
Neal, Mark, Hunt, John and Timmis, Jon, “Augmenting an Artificial Immune Network”, IEEE 1998, pp. 3821-3826.
Klimasauskas, Casimir C., “Neural Networks: A Short Course”, PC AI, Nov./Dec. 1988, pp. 26-30.
Klimasauskas, Casimir C., “Applying Neural Networks Part 1: An Overview of the Series”, PC AI, Jan. Feb. 1991, pp. 30-33.
Klimasauskas, Casimir C., “Applying Neural Networks Part 2: A Walk Through the Application Process”, PC AI, Mar./Apr. 1991, pp. 27-34.
Klimasauskas, Casimir C., “Applying Neural Networks Part III: Training a Neural Network”, PC AI, May/Jun. 1991, pp. 20-24.
Klimasauskas, Casimir C., “Applying Neural Networks Part IV: Improving Performance”, PC AI Jul./Aug. 1991, pp. 34-41.
Klimasauskas, Casimir C., “Applying Neural Networks Part V: Integrating a Trained Network into an Application”, PC AI Sep./Oct. 1991, pp. 36-41.
Klimasauskas, Casimir C., “Applying Neural Networks Part VI: Special Topics”, PC AI Nov./Dec. 1991, pp. 46-49.
J. Killin. “Combatting credit card fraud with knowledge based systems.” In Compsec 90 International. Elsevier Advanced Technology, Oxford, Oct. 1990.
GB Search Report for GB0705653.4 dated Jun. 22, 2007, 4 pages.
PCT Search Report of PCT/US08/78987 dated Dec. 5, 2008, 8 pages.
““Formula by example” software expands analysis power of Lotus 1-2-3 for Windows”, dated Nov. 11, 1991, News Release, p. 1, Wes Thomas, Thomas Public Relations.

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