System, method and computer program product for managing credit decisions
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United States of America Patent
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May 10, 2011
Grant Date -
Jun 3, 2004
app pub date -
Aug 12, 2003
filing date -
Aug 13, 2002
priority date (Note) -
Expired
status (Latency Note)
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Abstract
A system, computer program product and method for deciding whether to make a loan to an applicant and/or terms of the loan. A first program function determines a credit risk of the applicant. A second program function computes a default probability of the applicant over time based on the credit risk. The second program function determines a surviving probability of an applicant based on the applicant's credit risk. The second program function determines the default probability for each month of the term of the loan based in part on the surviving probability. A third program function computes a sum of the expected profit during each month of a term of the loan based in part on the default probability.
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