Automated Loan Risk Assessment System and Method

• US 20110106693A1
• Filed: 10/27/2010
• Published: 05/05/2011
• Est. Priority Date: 11/13/2001
• Status: Active Grant

• Current Assignee: First American Financial Corporation
• Original Assignee: Interthinx Incorporated (First American Financial Corporation)
• Inventors: Hourigan, Stephen M., Wilson, Constance A., Halper, Steven C.
• Granted Patent: US 8,386,378 B2
• Time in Patent Office: Days
• US Class Current: 705/38
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• 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

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.

Claims

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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