Credit risk evaluation with responsibility factors

  • US 8,407,139 B1
  • Filed: 10/31/2011
  • Issued: 03/26/2013
  • Est. Priority Date: 08/07/2006
  • Status: Active Grant
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First Claim
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1. A computer-assisted method of calculating an enhanced credit score of a user, the method comprising:

  • measuring, by one or more telematics sensors connected to a vehicle of the user, at least one vehicle monitoring rating factor relating to the user;

    receiving, by a processor using an input module of a computer, credit risk information, insurance rating information from at least one of;

    a governmental entity database coupled to the computer through a network and a third-party entity database coupled to the computer through the network, and the at least one vehicle monitoring rating factor relating to the user;

    calculating an enhanced credit score for the user using the credit risk information, the insurance rating information, and the at least one vehicle monitoring rating factor, and the calculating is performed by the processor using a calculation module of the computer; and

    determining, by the processor of the computer, terms of a financing agreement for the user using the enhanced credit score,wherein the calculating the enhanced credit score comprises;

    calculating, by the processor using the calculation module, a first result by performing multiplication on a first coefficient and at least a portion of the credit risk information comprising a number of active accounts;

    calculating, by the processor using the calculation module, a second result by performing multiplication on a second coefficient and at least a portion of the credit risk information comprising an average age of active accounts;

    calculating, by the processor using the calculation module, a third result by performing multiplication on a third coefficient and at least a portion of the credit risk information comprising a number of credit cards with a balance greater than a first predetermined amount;

    calculating, by the processor using the calculation module, a fourth result by performing multiplication on a fourth coefficient and at least a portion of the credit risk information comprising a number of collections of greater than a second predetermined amount in a past first predetermined number of years;

    calculating, by the processor using the calculation module, a fifth result by performing multiplication on a fifth coefficient and the insurance rating information comprising a number of minor traffic violations in the past second predetermined number of years;

    calculating, by the processor using the calculation module, a sixth result by performing multiplication on a sixth coefficient and the insurance rating information comprising a number of occupants in a dwelling of the user times the square footage of the dwelling;

    calculating, by the processor using the calculation module, a seventh result by performing multiplication on a seventh coefficient and the at least one vehicle monitoring rating factor comprising a number of sudden braking situations.

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