Automated loan risk assessment system and method
First Claim
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1. An automated loan risk assessment system, comprising:
- means for receiving information about a loan; and
means for calculating a risk score for the loan based on a plurality of risk factors including at least two of a fraud risk factor, an underwriting risk factor and a property valuation risk factor, whereby the risk score can be used by a loan service provider in deciding whether or not to fund or insure the loan.
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Abstract
An automated loan risk assessment system and method are described. The system is adapted to receive information about a loan or an insurance application requesting insurance to cover same. The system calculates a risk score for the loan based on a plurality of risk factors including at least two of a fraud risk factor, a credit risk factor and a property valuation risk factor. The risk score can be used by a loan service provider in deciding whether or not to fund or insure the loan.
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Citations
56 Claims
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1. An automated loan risk assessment system, comprising:
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means for receiving information about a loan; and
means for calculating a risk score for the loan based on a plurality of risk factors including at least two of a fraud risk factor, an underwriting risk factor and a property valuation risk factor, whereby the risk score can be used by a loan service provider in deciding whether or not to fund or insure the loan. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14)
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15. An automated loan risk assessment system, comprising:
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a mechanism adapted to receive information about a loan; and
a mechanism adapted to calculate a risk score for the loan based on a plurality of risk factors including at least two of a fraud risk factor, an underwriting risk factor and a property valuation risk factor, whereby the risk score can be used by a loan service provider in deciding whether or not to fund or insure the loan. - View Dependent Claims (16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28)
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29. A computer-readable medium whose contents cause a computer system to assess the risk associated with funding or insuring a loan by performing the steps of:
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receiving information about a loan; and
calculating a risk score for the loan based on a plurality of risk factors including at least two of a fraud risk factor, a credit risk factor and a property valuation risk factor. - View Dependent Claims (30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42)
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43. A computer-implemented method of assessing the risk associated with the funding or insuring of a loan, comprising:
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receiving information about a loan; and
calculating a risk score for the loan based on a plurality of risk factors including at least two of a fraud risk factor, an underwriting risk factor and a property valuation risk factor. - View Dependent Claims (44, 45, 46, 47, 48, 49, 50, 51, 52, 53, 54, 55, 56)
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Specification