Patent ID: 8065234

Claim:
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.