Apparatus and methods for verifying a credit applicant's income that enhance a credit applicant's experience

Apparatus and methods for verifying a credit applicant's income that enhance a credit applicant's experience

Apparatus and methods for processing a loan application. The apparatus and methods may involve accessing a financial institution customer account that includes a plurality of transactions; identifying those transactions that belong to a predetermined transaction category; and summarizing the transac...

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Hauptverfasser: GHOSH DEBASHIS, CARUSO ROBERT, PINTO ARUN, SHAO YANGHONG, NEWMAN KURT, ALLISON THAYER, BANERJEE SUDESHNA, JOA DAVID
Format: Patent
Sprache:eng
Schlagworte:
CALCULATING
COMPUTING
COUNTING
DATA PROCESSING SYSTEMS OR METHODS, SPECIALLY ADAPTED FORADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORYOR FORECASTING PURPOSES
PHYSICS
SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE,COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORY OR FORECASTINGPURPOSES, NOT OTHERWISE PROVIDED FOR
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Beschreibung
Zusammenfassung:Apparatus and methods for processing a loan application. The apparatus and methods may involve accessing a financial institution customer account that includes a plurality of transactions; identifying those transactions that belong to a predetermined transaction category; and summarizing the transactions. Summary information may be presented as part of an income and expenses flow report that at least partially characterizes the account or the applicant. A financial institution representative may query a database for the summary information and, optionally, initiate an underwriting process based on the loan application and the summary information.