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Systems and methods for income scoring

  • US 7,451,095 B1
  • Filed: 10/30/2002
  • Issued: 11/11/2008
  • Est. Priority Date: 10/30/2002
  • Status: Active Grant
First Claim
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1. A computer implemented method for providing a score indicating whether that a stated income of a borrower is likely to be faulty, said method comprising the steps of:

  • receiving by a computerborrower information representative of the borrower from a first source, the borrower information including the stated income of the borrower;

    based on the borrower information, income-verifying information from a second source;

    said computer providing the score by;

    initializing one or more variables of a model based on the stated income and the income-verifying information;

    calculating one or more coefficients for the one or more initialized variables;

    determining the score by multiplying the one or more initialized variables by the corresponding coefficient and summing the results, such that the score indicates whether the stated income of the borrower is likely to be faulty; and

    providing the determined score.

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