Method and apparatus for a verifiable on line rejection of an application for credit

  • US 6,567,791 B2
  • Filed: 11/03/1998
  • Issued: 05/20/2003
  • Est. Priority Date: 11/03/1998
  • Status: Expired due to Term
First Claim
Patent Images

1. A method of presenting a reason for the rejection of a credit application from an applicant comprising:

  • obtaining a factor from a credit bureau identified as influencing the FICO score assigned to the application by the credit bureau;

    mapping the factor identified by the credit bureau to an internal rejection code;

    determining whether the internal rejection code corresponds to a specific code or a general code;

    if the internal rejection code corresponds to a general code, checking a result of an attribute test to determine whether the result corresponds to an appropriate rejection reason;

    if the attribute test result corresponds to an appropriate rejection reason, then changing the internal rejection code to correspond to the appropriate rejection reason; and

    providing a rejection reason corresponding to the internal rejection code to the applicant.

View all claims
    ×
    ×

    Thank you for your feedback

    ×
    ×