US 2014/0279398 A1 · ABILITY TO PAY CALCULATOR

Abstract

The disclosed embodiments include methods and systems for collecting, managing, and processing data for lending services. In one embodiment, a computerized system is disclosed that may receive a loan request from a customer, and collect data from the customer and third parties having information about the customer. The system may utilize the collected data in an ability-to-pay (ATP) calculator to determine the customer's ability to pay the requested loan, in addition to the customer's current financial obligations, and considering additional contextual factors. Different selectable versions of the ATP calculator may incorporate different contextual data and non-traditional financial data to provide a customized, accurate determination of the customer's ability-to-pay.

Claims21

Dependent claims

An apparatus for determining a customer's ability to pay (ATP) a debt, comprising:

one or more memory devices having stored thereon software instructions;
and
one or more processors configured to execute the software instructions to:
receive a selection of a first ATP calculator version from among of a set of ATP calculator versions available for operation,
provide an interface associated with the first ATP calculator version,
receive income data associated with a customer through the interface,
receive debt data that includes an amount of a requested loan by the customer through the interface,
calculate an amount of total obligations for the customer based on the debt data,
calculate an amount of total income for the customer based on the received income data,
calculate a debt to income ratio for the customer based on the amount of total obligations and total income for the customer,
determine, based on the determined debt to income ratio, an ability to pay the requested loan, and
provide an indication of the determined ability to pay the requested loan in the interface associated with the first ATP calculator version.

9 more elements

A computer-implemented method for determining a customer's ability to pay a debt, comprising:

receiving, by one or more processors, a selection of a first ATP calculator version from among of a set of ATP calculator versions available for operation,
providing, by the one or more processors, an interface associated with the first ATP calculator version,
receiving, by the one or more processors, income data associated with a customer through the interface,
receiving, by the one or more processors, debt data that includes an amount of a requested loan by the customer through the interface,
calculating, by the one or more processors, an amount of total obligations for the customer based on the debt data,
calculating, by the one or more processors, an amount of total income for the customer based on the received income data,
calculating, by the one or more processors, a debt to income ratio for the customer based on the amount of total obligations and total income for the customer,
determining, by the one or more processors, based on the determined debt to income ratio, an ability to pay the requested loan, and
providing, by the one or more processors, an indication of the determined ability to pay the requested loan in the interface associated with the first ATP calculator version.

6 more elements

A non-transitory computer readable medium having stored thereon instructions for causing one or more processors to perform a method for determining a customer's ability to pay a debt, the method comprising:

receiving a selection of a first ATP calculator version from among of a set of ATP calculator versions available for operation,
providing an interface associated with the first ATP calculator version,
receiving income data associated with a customer through the interface,
receiving debt data that includes an amount of a requested loan by the customer through the interface,
calculating an amount of total obligations for the customer based on the debt data,
calculating an amount of total income for the customer based on the received income data,
calculating a debt to income ratio for the customer based on the amount of total obligations and total income for the customer,
determining based on the determined debt to income ratio, an ability to pay the requested loan, and
providing an indication of the determined ability to pay the requested loan in the interface associated with the first ATP calculator version.

6 more elements

Dependencies are inferred from the claim text.

Ability to pay calculator

Life of this patent

Ability to pay calculator

Life of this patent

Abstract

Claims21