Method and system to determine resident qualifications

• US 7,904,366 B2
• Filed: 09/02/2005
• Issued: 03/08/2011
• Est. Priority Date: 09/02/2005
• Status: Expired due to Fees

• Current Assignee: GE Capital US Holdings, Inc. (General Electric Company)
• Original Assignee: General Electric Capital Corporation (General Electric Company)
• Inventors: Pogust, Wende
• Primary Examiner(s): Kalinowski; Alexander
• Assistant Examiner(s): Ebersman; Bruce I
• Application Number:
  US11/219,188
• Publication Number:
  US 20070055618A1
• Time in Patent Office: 2,013 Days
• Field of Search: None
• US Class Current: 705/36.00R
• 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
• CPC Class Codes: G06Q 40/06 Asset management; Financial planning or analysis

Abstract

A system, method, apparatus, and computer program code, including obtaining a record of actual rental payments associated with residents of a portfolio of rental units corresponding to a rental unit; obtaining a credit rating for the residents of the portfolio of rental units; classifying the residents of the portfolio of rental units into at least one category based on the record of actual rental payments; and determining, by statistical analysis, a predictive indicator of a credit rating to associate with the at least one category based on the credit rating and the classification of the residents.

Claims

1. A computer-implemented method comprising:

obtaining a historical record of actual rental payments associated with residents of a portfolio of rental units including a subject rental unit, the portfolio of rental units corresponding to the subject rental unit based on one or more associations common to both the portfolio of rental units and the subject rental unit and the historical record of actual rental payments includes an indication of when the rent payments were received relative to a due date for each of the rental units in the portfolio of rental units and comprises at least one of;

identifying information for a rental unit in the portfolio of rental units, a length of time a resident of the portfolio of rental units has resided in a rental unit included in the portfolio of rental units, and historical data associated with a resident of the portfolio of rental units;

obtaining a credit rating for each of the residents of the portfolio of rental units;

classifying each of the residents of the portfolio of rental units into at least one category based solely on the record of actual rental payments including the indication of when the rent payments were received relative to the due date for each of the rental units in the portfolio of rental units;

determining, by statistical analysis using a computer, a predictive indicator of a credit rating to associate with the at least one category based on the credit rating and the classification of the residents based on when the rent payments were received relative to the due date for each of the rental units in the portfolio of rental units, wherein the statistical analysis comprises a logistical linear regression operation;

obtaining an acceptable risk level regarding payment of rent for the subject rental unit, wherein the acceptable risk level is varied independent of the predictive indicator;

providing an indication that a rental applicant applying to rent the subject rental unit and having an associated credit rating will correspond to the at least one category, based on the acceptable risk level and the determined predictive indicator; and

storing the indication that a rental applicant applying to rent the subject rental unit and having an associated credit rating will correspond to the at least one category in a memory.

2. The method of claim 1, wherein the provided indication is expressed as a probability.

3. The method of claim 1, further comprising determining a qualification for the rental applicant by comparing the associated credit rating of the rental applicant and the determined predictive indicator.

4. The method of claim 3, wherein the qualification for the rental applicant comprises a plurality of levels of qualification and each level of qualification corresponds to a level of the at least one classification.

5. The method of claim 4, wherein the plurality of levels of qualification comprises an acceptable level, an unacceptable level, and an acceptable with conditions level.

6. The method of claim 1, further comprising updating the predictive indicator by using an updated record of the actual rental payments in the classifying of the residents of the portfolio of rental units.

7. The method of claim 1, wherein the record of actual rental payments is associated with a predetermined period of time and the credit rating for the residents is a credit rating associated with the residents at a beginning of the predetermined period of time.

8. The method of claim 1, further comprising providing a recommended course of action based on the predictive indicator.

9. A system for facilitating a determination of a qualification of a rental applicant, comprising:

a memory; and

a processor connected to the memory, the processor being operative to;

obtain a historical record of actual rental payments associated with residents of a portfolio of rental units including a subject rental unit, the portfolio of rental units corresponding to the subject rental unit based on one or more associations common to both the portfolio of rental units and the subject rental unit and the historical record of actual rental payments includes an indication of when the rent payments were received relative to a due date for each of the rental units in the portfolio of rental units and comprises at least one of;

identifying information for a rental unit in the portfolio of rental units, a length of time a resident of the portfolio of rental units has resided in a rental unit included in the portfolio of rental units, and historical data associated with a resident of the portfolio of rental units;

obtain a credit rating for each of the residents of the portfolio of rental units;

classify each of the residents of the portfolio of rental units into at least one category based solely on the record of actual rental payments including the indication of when the rent payments were received relative to the due date for each of the rental units in the portfolio of rental units;

determine, by statistical analysis, a predictive indicator of a credit rating to associate with the at least one category based on the credit rating and the classification of the residents based on when the rent payments were received relative to the due date for each of the rental units in the portfolio of rental units, wherein the statistical analysis comprises a logistical linear regression operation;

obtain an acceptable risk level regarding payment of rent for the subject rental unit, wherein the acceptable risk level is varied independent of the predictive indicator;

provide an indication that a rental applicant applying to rent the subject rental unit and having an associated credit rating will correspond to the at least one category, based on the acceptable risk level and the determined predictive indicator;

and store the indication that a rental applicant applying to rent the subject rental unit and having an associated credit rating will correspond to the at least one category in a memory.

10. The system of claim 9, wherein the provided indication is expressed as a probability.

11. The system of claim 9, wherein the processor is further operative to:

determine a qualification for the rental applicant by comparing the associated credit rating of the rental applicant and the determined predictive indicator.

12. The system of claim 11, wherein the qualification for the rental applicant comprises a plurality of levels of qualification and each level of qualification corresponds to a level of the at least one classification.

13. The system of claim 9, further comprising updating the predictive indicator by using an updated record of the actual rental payments in the classifying of the residents of the portfolio of rental units.

14. The system of claim 9, wherein the record of actual rental payments is associated with a predetermined period of time and the credit rating for the residents is a credit rating associated with the residents at a beginning of the predetermined period of time.

15. A storage medium having executable programming instructions stored thereon, the stored program instructions comprising:

instructions to obtain a historical record of actual rental payments associated with residents of a portfolio of rental units including a subject rental unit, the portfolio of rental units corresponding to the subject rental unit based on one or more associations common to both the portfolio of rental units and the subject rental unit and the historical record of actual rental payments including an indication of when the rent payments were received relative to a due date for each of the rental units in the portfolio of rental units and comprises at least one of;

identifying information for a rental unit in the portfolio of rental units, a length of time a resident of the portfolio of rental units has resided in a rental unit included in the portfolio of rental units, and historical data associated with a resident of the portfolio of rental units;

instructions to obtain a credit rating for each of the residents of the portfolio of rental units;

instructions to classify each of the residents of the portfolio of rental units into at least one category based solely on the record of actual rental payments including the indication of when the rent payments were received relative to the due date for each of the rental units in the portfolio of rental units;

instructions to determine, by statistical analysis, a predictive indicator of a credit rating to associate with the at least one category based on the credit rating and the classification of the residents based on when the rent payments were received relative to the due date for each of the rental units in the portfolio of rental units, wherein the statistical analysis comprises a logistical linear regression operation;

instructions to obtain an acceptable risk level regarding payment of rent for the subject rental unit, wherein the acceptable risk level is varied independent of the predictive indicator;

instructions to provide an indication that a rental applicant applying to rent the subject rental unit and having an associated credit rating will correspond to the at least one category, based on the acceptable risk level and the determined predictive indicator; and

storing the indication that a rental applicant applying to rent the subject rental unit and having an associated credit rating will correspond to the at least one category in a memory.

16. The storage medium of claim 15, further comprising instructions to determine a qualification for the rental applicant by comparing the associated credit rating of the rental applicant and the determined predictive indicator.

17. The storage medium of claim 15, wherein the qualification for the rental applicant comprises a plurality of levels of qualification and each level of qualification corresponds to a level of the at least one classification.