Systems and methods for determining loan opportunities

• US 7,962,404 B1
• Filed: 11/07/2007
• Issued: 06/14/2011
• Est. Priority Date: 11/07/2007
• Status: Active Grant

• Current Assignee: Experian Information Solutions Incorporated (Experian plc)
• Original Assignee: Experian Information Solutions Incorporated (Experian plc)
• Inventors: Metzger, Frank X. II, Densmore, Sherri Joyann
• Primary Examiner(s): Colbert; Ella
• Assistant Examiner(s): Amelunxen; B. Joan
• Application Number:
  US11/936,720
• Time in Patent Office: 1,315 Days
• Field of Search: 382/139, 705/1, 705/2, 705/4, 705/7, 705/10, 705/14, 705/14.26, 705/16, 705/35, 705/38, 705/39, 705/40, 706/62, 707/3, 707/2, 709/206, 725/9, 725/34
• US Class Current: 705/38
• CPC Class Codes: G06Q 20/102 Bill distribution or payments
• CPC Class Codes: G06Q 30/0205 Location or geographical consideration
• 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

A loan opportunity system is configured to analyze loan data and/or population data in order to determine loan opportunities for a lender, such as a credit union. In one embodiment a lender is initially provided with one or more estimated loan opportunity indicators, such as indicators of quantities of loans in a specific geographic region for which the lender can likely offer lower rates. Subsequently, upon completion of a payment agreement with a loan opportunity provider, for example, and establishment of loan parameters associated with borrowers (and their existing loans) to which the lender would like to make firm offers of credit, the lender is provided with a loan opportunity list indicating details of borrowers and their respective loans for which the particular lender can likely offer lower rates.

Claims

1. A method of determining automobile loan opportunities for a credit union, the method comprising:

determining a geographic region serviced by the credit union;

accessing population data estimating a number of adult individuals in the geographic region;

accessing data estimating a percentage of adults in the geographic region that are currently making payments on at least one automobile loan;

determining, using a computer processor, an estimated number of individuals with outstanding automobile loans in the geographic region based on the number of adult individuals in the geographic region and the estimated percentage;

retrieving an estimated number of actual credit union customers, wherein the estimated number of actual credit union customers is an approximate number of individuals who have outstanding automobile loans serviced by the credit union;

determining, using the computer processor, an estimated number of potential credit union customers, based on a difference between the number of individuals with outstanding automobile loans and the number of actual credit union customers;

apportioning, using the computer processor, the number of potential credit union customers by a plurality of credit tiers, the apportioning being determined based on population-based percentage information relating to the plurality of credit tiers; and

displaying a graphical indication of one or more opportunity credit tiers of the plurality of credit tiers, based on a determination, by the computer processor for each tier of the opportunity credit tiers, that an average automobile loan interest rate offered by the credit union for the tier is less than an average automobile loan interest rate for the same tier, wherein the average automobile loan interest rate is retrieved from an external data source.

2. The method of claim 1, further comprising:

receiving one or more parameters indicating characteristics of borrowers;

accessing credit data comprising loan information regarding specific borrowers in the geographic region;

comparing the parameters to the credit data; and

generating a data structure comprising information regarding borrowers having loan information matching the parameters.

3. The method of claim 2, further comprising entering an agreement for payment from a recipient of the data structure to an entity that performs the generating of the data structure.

4. The method of claim 3, wherein the payment comprises a payment amount for each of the borrowers having loan information matching the parameters.

5. The method of claim 2, wherein the loan information comprises data indicating one or more of a rounded loan balance, a rounded monthly payment amount, an estimated interest rate, a loan term, and/or a loan term remaining.

6. The method of claim 1, wherein the geographic region comprises one or more ZIP code regions, MSA regions, municipalities, cities, counties, states, and countries.

7. The method of claim 1, further comprising generating a user interface depicting at least the estimated number of loan opportunities in the geographic region.

8. The method of claim 1, wherein the estimated number of adult individuals in the geographic region is obtained from government census data.

9. The method of claim 1, wherein the estimated percentage of adults in the geographic region is obtained from government census data.

10. The method of claim 1, wherein the approximate number of individuals who have outstanding automobile loans serviced by the credit union is obtained from the National Credit Union Administration.

11. A computer readable storage medium storing software code configured for execution on a computer system, the software code being configured to perform a method comprising:

generating a user interface for receiving an indication of a geographic region from a user of the computer system;

accessing population data estimating a number of adult individuals in the geographic region;

accessing data estimating a percentage of adults in the geographic region having existing automobile loans;

determining, using a computer processor, an estimated number of individuals with automobile loans in the geographic region based on the number of adult individuals in the geographic region and the estimated percentage;

retrieving, from an external data source, an approximate number of automobile loans serviced by one or more credit unions; and

determining, using the processor, an estimated number of loan opportunities in the geographic region based on a difference between the approximate number of automobile loans serviced by the credit union and the estimated number of individuals with automobile loans;

apportioning, using the computer processor, the estimated number of loan opportunities into a plurality of credit tiers based upon aggregate population credit data; and

graphically highlighting a portion of the credit tiers, based on a comparison, by the computer processor, between average interest rates associated with the credit tiers and interest rates offered by the credit unions.

12. The computer readable storage medium of claim 11, wherein at least a portion of the user interface is displayed to the user via a spreadsheet software application executing on the computer system.

13. The computer readable storage medium of claim 11, wherein the method further comprises:

receiving one or more parameters indicating characteristics of borrowers;

accessing credit data comprising loan information regarding specific borrowers in the geographic region;

comparing the parameters to the credit data; and

generating a data structure comprising information regarding borrowers having loan information matching the parameters.

14. The computer readable storage medium of claim 13, wherein the method further comprises entering an agreement for payment from a recipient of the data structure to an entity that performs the generating of the data structure.

15. The computer readable storage medium of claim 14, wherein the payment comprises a payment amount for each of the borrowers having loan information matching the parameters.

16. The computer readable storage medium of claim 13, wherein the loan information comprises data indicating one or more of a rounded loan balance, a rounded monthly payment amount, an estimated interest rate, a loan term, and/or a loan term remaining.

17. The computer readable storage medium of claim 11, in combination with a computer processor configured to execute the software code stored in the computer readable storage medium.