Method and system to determine resident qualifications

• US 20070055618A1
• Filed: 09/02/2005
• Published: 03/08/2007
• Est. Priority Date: 09/02/2005
• Status: Active Grant

• Current Assignee: GE Capital US Holdings, Inc. (General Electric Company)
• Original Assignee: General Electric Capital Corporation (General Electric Company)
• Inventors: Pogust, Wende
• Granted Patent: US 7,904,366 B2
• Time in Patent Office: Days
• US Class Current: 705/38
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof
• CPC Class Codes: G06Q 40/06 Asset management; Financial planning or analysis

Abstract

A system, method, apparatus, and computer program code, including obtaining a record of actual rental payments associated with residents of a portfolio of rental units corresponding to a rental unit; obtaining a credit rating for the residents of the portfolio of rental units; classifying the residents of the portfolio of rental units into at least one category based on the record of actual rental payments; and determining, by statistical analysis, a predictive indicator of a credit rating to associate with the at least one category based on the credit rating and the classification of the residents.

Claims

1. A method comprising:

obtaining a record of actual rental payments associated with residents of a portfolio of rental units corresponding to a rental unit;

obtaining a credit rating for the residents of the portfolio of rental units;

classifying the residents of the portfolio of rental units into at least one category based on the record of actual rental payments; and

determining, by statistical analysis, a predictive indicator of a credit rating to associate with the at least one category based on the credit rating and the classification of the residents.

2. The method of claim 1, further comprising:

obtaining an acceptable risk level regarding payment of rent for the rental unit; and

providing an indication that a rental applicant applying to rent the rental unit and having a given credit rating will correspond to the at least one category, based on the acceptable risk level and the determined predictive indicator.

3. The method of claim 2, wherein the provided indication is expressed as a probability.

4. The method of claim 2, wherein the acceptable risk level may be may be varied.

5. The method of claim 4, wherein the acceptable risk level is varied independent of the predictive indicator.

6. The method of claim 2, further comprising determining a qualification for the rental applicant by comparing a credit rating of the rental applicant and the determined predictive indicator.

7. The method of claim 6, wherein the qualification for the rental applicant comprises a plurality of levels of qualification and each level of qualification corresponds to a level of the at least one classification.

8. The method of claim 7, wherein the plurality of levels of qualification comprises an acceptable level, an unacceptable level, and an acceptable with conditions level.

9. The method of claim 1, wherein the record of actual rental payments comprises an indication of when rental payments were received relative to a due date for the rental payment.

10. The method of claim 1, wherein the record of actual rental payments comprises at least one of:

identifying information for a rental unit in the portfolio of rental units, a length of time a resident of the portfolio of rental units has resided in a rental unit included in the portfolio of rental units, and historical data associated with a resident of the portfolio of rental units.

11. The method of claim 1, further comprising updating the predictive indicator by using an updated record of the actual rental payments in the classifying of the residents of the portfolio of rental units.

12. The method of claim 1, wherein the record of actual rental payments is associated with a predetermined period of time and the credit rating for the residents is a credit rating associated with the residents at a beginning of the predetermined period of time.

13. The method of claim 1, wherein the portfolio of rental units includes the rental unit.

14. The method of claim 1, wherein the statistical analysis comprises a logistical linear regression operation.

15. The method of claim 1, further comprising providing a recommended course of action based on the predictive indicator.

16. A system for facilitating a determination of a qualification of a rental applicant, comprising:

a memory; and

a processor connected to the memory, the processor being operative to;

obtain a record of actual rental payments associated with residents of a portfolio of rental units corresponding to a rental unit;

obtain a credit rating for the residents of the portfolio of rental units;

classify the residents of the portfolio of rental units into at least one category based on the record of actual rental payments; and

determine, by statistical analysis, a predictive indicator of a credit rating to associate with the at least one category based on the credit rating and the classification of the residents.

17. The system of claim 16, wherein the processor is further operative to:

obtain an acceptable risk level regarding payment of rent for the rental unit; and

provide an indication that a rental applicant applying to rent the rental unit and having a given credit rating will correspond to the at least one category, based on the acceptable risk level and the determined predictive indicator.

18. The system of claim 17, wherein the provided indication is expressed as a probability.

19. The system method of claim 17, wherein the acceptable risk level may be varied independent of the predictive indicator.

20. The system of claim 17, wherein the processor is further operative to:

determine a qualification for the rental applicant by comparing a credit rating of the rental applicant and the determined predictive indicator.

21. The system of claim 20, wherein the qualification for the rental applicant comprises a plurality of levels of qualification and each level of qualification corresponds to a level of the at least one classification.

22. The system of claim 16, wherein the record of actual rental payments comprises an indication of when rental payments were received relative to a due date for the rental payment.

23. The system of claim 16, further comprising updating the predictive indicator by using an updated record of the actual rental payments in the classifying of the residents of the portfolio of rental units.

24. The system of claim 16, wherein the record of actual rental payments is associated with a predetermined period of time and the credit rating for the residents is a credit rating associated with the residents at a beginning of the predetermined period of time.

25. The system of claim 16, wherein the statistical analysis comprises a logistical linear regression operation.

26. A storage medium having executable programming instructions stored thereon, the stored program instructions comprising:

instructions to obtain a record of actual rental payments associated with residents of a portfolio of rental units corresponding to a rental unit;

instructions to obtain a credit rating for the residents of the portfolio of rental units;

instructions to classify the residents of the portfolio of rental units into at least one category based on the record of actual rental payments; and

instructions to determine, by statistical analysis, a predictive indicator of a credit rating to associate with the at least one category based on the credit rating and the classification of the residents.

27. The storage medium of claim 26, further comprising instructions to:

obtain an acceptable risk level regarding payment of rent for the rental unit; and

provide an indication that a rental applicant applying to rent the rental unit and having a given credit rating will correspond to the at least one category, based on the acceptable risk level and the determined predictive indicator.

28. The storage medium of claim 27, further comprising instructions to determine a qualification for the rental applicant by comparing a credit rating of the rental applicant and the determined predictive indicator.

29. The storage medium of claim 27, wherein the qualification for the rental applicant comprises a plurality of levels of qualification and each level of qualification corresponds to a level of the at least one classification

30. The storage medium of claim 29, wherein the acceptable risk level may be may be varied independent of the predictive indicator.

31. The storage medium of claim 26, wherein the record of actual rental payments comprises an indication of when rental payments were received relative to a due date for the rental payment.

32. The storage medium of claim 26, wherein the statistical analysis comprises a logistical linear regression operation.