Methods and systems of predicting mortgage payment risk
First Claim
1. A system for detecting a risk of payment defaults, comprising:
- non-transitory data storage that stores (1) mortgage data associated with a mortgage application that is associated with an applicant and (2) credit data related to the applicant; and
a computer system comprising one or more processors, the computer system being coupled with the data storage and being configured to;
process model training data related to a plurality of historical mortgage transactions;
generate one or more models based at least partly on the model training data by a process that comprises at least one of;
identifying, within the plurality of historical mortgage transactions, historical mortgage transactions that resulted in a payment default and historical mortgage transactions that did not result in a payment default; and
identifying input variables that are predictive of payment default based on the data related to the historical mortgage transactions; and
determine a payment default risk score for the mortgage application based at least partly on (1) the one or more generated models, (2) the mortgage data associated with the mortgage application, and (3) the credit data related to the applicant.
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Accused Products
Abstract
Disclosed herein are methods and systems for detecting a risk of payment default. In various embodiments, the systems/methods receive mortgage data associated with a mortgage application of an applicant, generate one or more models based on data related to historical mortgage transactions and determine a payment default risk score based at least partly on the one or more generated models, the mortgage data associated with the mortgage application, and the credit data related to the applicant. In another embodiment, a system is disclosed for selecting mortgage applications for further fraud evaluation based on the determined risks of early payment default associated with the mortgage applications and performing the fraud evaluation on those selected mortgage applications.
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Citations
24 Claims
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1. A system for detecting a risk of payment defaults, comprising:
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non-transitory data storage that stores (1) mortgage data associated with a mortgage application that is associated with an applicant and (2) credit data related to the applicant; and a computer system comprising one or more processors, the computer system being coupled with the data storage and being configured to; process model training data related to a plurality of historical mortgage transactions; generate one or more models based at least partly on the model training data by a process that comprises at least one of; identifying, within the plurality of historical mortgage transactions, historical mortgage transactions that resulted in a payment default and historical mortgage transactions that did not result in a payment default; and identifying input variables that are predictive of payment default based on the data related to the historical mortgage transactions; and determine a payment default risk score for the mortgage application based at least partly on (1) the one or more generated models, (2) the mortgage data associated with the mortgage application, and (3) the credit data related to the applicant. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12)
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13. A method for detecting a risk of payment default, comprising:
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generating one or more models based at least partly on model training data related to a plurality of historical mortgage transactions, the generating comprising at least one of; identifying, within the plurality of historical mortgage transactions, historical mortgage transactions that resulted in a payment default and historical mortgage transactions that did not result in a payment default; and identifying input variables that are predictive of payment default based on the data related to the historical mortgage transactions; receiving mortgage data associated with a mortgage application that is associated with an applicant and credit data related to the applicant; and determining a payment default risk score for the mortgage application based at least partly on the one or more generated models, the mortgage data associated with the mortgage application, and the credit data related to the applicant, wherein the method is performed in its entirety by a computing system that comprises one or more computing devices. - View Dependent Claims (14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24)
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Specification