COLLATERAL VALIDATION SYSTEM
First Claim
1. An automated collateral validation system for variably calculating past and present collateral values as well as forecasting future collateral values and statistically validating those collateral values comprising:
- a) a data acquisition engine receiving data inputs from meta models and sub model experts;
b) an inference engine which enables the user to adjust which meta models and sub model experts data are employed and inputted, and allows the user to adjust varying weights assigned to each meta model and expert employed;
c) a report generator which enables the user to customize which fields of data are illustrated on the generated report, and which generates output as a user customized report on the consensus collateral value and its validation; and
d) one or more user customizable use configurations;
whereby when said data acquisition engine is programmed with sub-model experts as adjusted and weighted by the user, a consensus market value and consensus metric is calculated, and a report is generated illustrating user adjusted output results.
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Accused Products
Abstract
The present invention is directed to a collateral validation system, and method providing an approach to automating valuation reconciliation. The collateral validation system is a fully automated validation of past and current valuations as well as allowing for forecasting future collateral values. It incorporates multiple independent opinions of value using a panel of experts approach employing multiple sub models along with housing price indices (HPIs), neighborhood level home price indices, premier data, external factors, analytics and predictive modeling, to enable a consensus approach, foreclosure trends, and external factors all user selectable and user weight adjustable for varying use configurations. As a result, a user may obtain a full and complete determination and validation of past and present value along with forecasted values coupled with statistical analyses in a fully customizable environment.
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Citations
20 Claims
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1. An automated collateral validation system for variably calculating past and present collateral values as well as forecasting future collateral values and statistically validating those collateral values comprising:
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a) a data acquisition engine receiving data inputs from meta models and sub model experts; b) an inference engine which enables the user to adjust which meta models and sub model experts data are employed and inputted, and allows the user to adjust varying weights assigned to each meta model and expert employed; c) a report generator which enables the user to customize which fields of data are illustrated on the generated report, and which generates output as a user customized report on the consensus collateral value and its validation; and d) one or more user customizable use configurations; whereby when said data acquisition engine is programmed with sub-model experts as adjusted and weighted by the user, a consensus market value and consensus metric is calculated, and a report is generated illustrating user adjusted output results. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10)
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11. An automated method for variably calculating past and present collateral values as well as forecasting future collateral values and statistically validating those collateral values, comprising the following steps:
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a) providing a data acquisition engine receiving data inputs from meta models and sub model experts; b) providing an inference engine which enables the user to adjust which meta models and sub model experts data are employed and inputted, and allows the user to adjust varying weights assigned to each meta model and expert employed; c) providing a report generator which enables the user to customize which fields of data are illustrated on the generated report, and which generates output as a user customized report on the consensus collateral value and its validation; and d) providing one or more use configurations; whereby when said data acquisition engine is programmed with sub-model experts as adjusted and weighted by the user, a consensus market value and consensus metric is calculated, and a report is generated illustrating user adjusted results. - View Dependent Claims (12, 13, 14, 15, 16, 17, 18, 19, 20)
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Specification