System and method for credit forecasting

Abstract

Disclosed is a system and method for the automated summarizing and reporting of key credit data elements of a consumer's multiple credit reports into an electronic, condensed, human-readable summary report including those key credit data elements most of interest to a loan originator. The generated electronic summary document displays the consumer's current credit mid-score, a credit mid-score forecast 30 days in the future, a mid-score projection based upon increases in the consumer's revolving debt, and an indication of the presence of negative credit information in the consumer's native credit reports.

1 . A computer implemented method for the automated generation and display of an electronic, single-page summary report aggregating key data from a consumer's multiple electronic credit reports, comprising the steps of:
 receiving at a summary document creation server computer executing a summary document creation engine a consumer's credit report data from each of a plurality of credit bureaus;   identifying at said summary document creation server computer the consumer's current credit scores from said credit report data;   determining at said summary document creation server computer a forecasted mid-score for said consumer at a pre-designated point in the future;   determining at said summary document creation server computer a projected mid-score for said consumer resulting from a hypothetical increase in an amount of said consumer's revolving credit;   combining at said summary document creation server computer said current credit scores, said forecasted mid-score, and said projected mid-score into a single electronic form summary document; and   transmitting said single electronic form summary document to a third party computer.   
     
     
         2 . The method of  claim 1 , wherein said step of determining a forecasted mid-score further comprises automatically aging a credit history of said consumer to said pre-designated point in the future. 
     
     
         3 . The method of  claim 2 , wherein said step of automatically aging said credit history further comprises aging said consumer's credit accounts that have been updated within a prior, pre-designated time period. 
     
     
         4 . The method of  claim 2 , wherein said step of automatically aging said credit history further comprises identifying dates in accounts in said consumer's credit history that change monthly, and automatically advancing all of said dates by a number of months corresponding to a pre-designated point in the future. 
     
     
         5 . The method of  claim 2 , wherein said step of automatically aging said credit history further comprises identifying a required monthly payment amount in installment loans in said consumer's credit history, estimating the portion of payment that is principal on each of said installment loans, and automatically reducing a balance on each of said installment loans by said estimated principal amount. 
     
     
         6 . The method of  claim 1 , wherein said step of determining a projected mid-score further comprises automatically determining at least a first projected mid-score and a second projected mid-score, wherein each of said first and second projected mid-scores is based upon a distinct, hypothetical increase of said consumer's revolving credit in pre-determined amounts. 
     
     
         7 . The method of  claim 6 , further comprising the step of displaying both of said first and second projected mid-scores. 
     
     
         8 . (canceled) 
     
     
         9 . (canceled) 
     
     
         10 . (canceled) 
     
     
         11 . A system for the automated generation and display of an electronic, single-page summary report aggregating key data from a consumer's multiple electronic credit reports, comprising:
 a summary document creation server computer having executable computer code stored thereon executing a summary document creation engine adapted to:   receive a consumer's credit report data from each of a plurality of credit bureaus;   identify the consumer's current credit scores from said credit report data;   determine a forecasted mid-score for said consumer at a pre-designated point in the future;   determine a projected mid-score for said consumer resulting from a hypothetical increase in an amount of said consumer's revolving credit;   combine said current credit scores, said forecasted mid-score, and said projected mid-score into a single electronic form summary document; and   transmit said single electronic form summary document to a third party computer.   
     
     
         12 . The system of  claim 11 , wherein determining a forecasted mid-score further comprises automatically aging a credit history of said consumer to said pre-designated point in the future. 
     
     
         13 . The system of  claim 12 , wherein automatically aging said credit history further comprises aging said consumer's credit accounts that have been updated within a prior, pre-designated time period. 
     
     
         14 . The system of  claim 12 , wherein automatically aging said credit history further comprises identifying dates in accounts in said consumer's credit history that change monthly, and automatically advancing all of said dates by a number of months corresponding to a pre-designated point in the future. 
     
     
         15 . The system of  claim 12 , wherein automatically aging said credit history further comprises identifying a required monthly payment amount in installment loans in said consumer's credit history, estimating the portion of payment that is principal on each of said installment loans, and automatically reducing a balance on each of said installment loans by said estimated principal amount. 
     
     
         16 . The system of  claim 11 , wherein determining a projected mid-score further comprises automatically determining at least a first projected mid-score and a second projected mid-score, wherein each of said first and second projected mid-scores is based upon a distinct, hypothetical increase of said consumer's revolving credit in pre-determined amounts. 
     
     
         17 . The system of  claim 16 , wherein said executable computer code is further adapted to display both of said first and second projected mid-scores. 
     
     
         18 . (canceled) 
     
     
         19 . (canceled) 
     
     
         20 . (canceled) 
     
     
         21 . A computer implemented method for the automated generation and display of an electronic, single-page summary report aggregating key data from a consumer's multiple electronic credit reports, comprising the steps of:
 receiving at a summary document creation server computer executing a summary document creation engine a consumer's credit report data from each of a plurality of credit bureaus;   identifying at said summary document creation server computer the consumer's current credit scores from said credit report data;   determining at said summary document creation server computer a forecasted mid-score for said consumer at a pre-designated point in the future;   combining at said summary document creation server computer said current credit scores and said forecasted mid-score into a single electronic form summary document; and   transmitting said single electronic form summary document to a third party computer.   
     
     
         22 . The method of  claim 21 , wherein said step of determining a forecasted mid-score further comprises automatically aging a credit history of said consumer to said pre-designated point in the future. 
     
     
         23 . The method of  claim 22 , wherein said step of automatically aging said credit history further comprises aging said consumer's credit accounts that have been updated within a prior, pre-designated time period. 
     
     
         24 . The method of  claim 22 , wherein said step of automatically aging said credit history further comprises identifying dates in accounts in said consumer's credit history that change monthly, and automatically advancing all of said dates by a number of months corresponding to a pre-designated point in the future. 
     
     
         25 . The method of  claim 22 , wherein said step of automatically aging said credit history further comprises identifying a required monthly payment amount in installment loans in said consumer's credit history, estimating the portion of payment that is principal on each of said installment loans, and automatically reducing a balance on each of said installment loans by said estimated principal amount. 
     
     
         26 . A computer implemented method for the automated generation and display of an electronic, single-page summary report aggregating key data from a consumer's multiple electronic credit reports, comprising the steps of:
 receiving at a summary document creation server computer executing a summary document creation engine a consumer's credit report data from each of a plurality of credit bureaus;   identifying at said summary document creation server computer the consumer's current credit scores from said credit report data;   determining at said summary document creation server computer a projected mid-score for said consumer resulting from a hypothetical increase in an amount of said consumer's revolving credit;   combining at said summary document creation server computer said current credit scores and said projected mid-score into a single electronic form summary document; and   transmitting said single electronic form summary document to a third party computer.   
     
     
         27 . The method of  claim 26 , wherein said step of determining a projected mid-score further comprises automatically determining at least a first projected mid-score and a second projected mid-score, wherein each of said first and second projected mid-scores is based upon a distinct, hypothetical increase of said consumer's revolving credit in pre-determined amounts. 
     
     
         28 . The method of  claim 27 , further comprising the step of displaying both of said first and second projected mid-scores. 
     
     
         29 . A system for the automated generation and display of an electronic, single-page summary report aggregating key data from a consumer's multiple electronic credit reports, comprising:
 a summary document creation server computer having executable computer code stored thereon executing a summary document creation engine adapted to:   receive a consumer's credit report data from each of a plurality of credit bureaus;   identify the consumer's current credit scores from said credit report data;   determine a forecasted mid-score for said consumer at a pre-designated point in the future;   combine said current credit scores, said forecasted mid-score, and said projected mid-score into a single electronic form summary document; and   transmit said single electronic form summary document to a third party computer.   
     
     
         30 . The system of  claim 29 , wherein determining a forecasted mid-score further comprises automatically aging a credit history of said consumer to said pre-designated point in the future. 
     
     
         31 . The system of  claim 30 , wherein automatically aging said credit history further comprises aging said consumer's credit accounts that have been updated within a prior, pre-designated time period. 
     
     
         32 . The system of  claim 30 , wherein automatically aging said credit history further comprises identifying dates in accounts in said consumer's credit history that change monthly, and automatically advancing all of said dates by a number of months corresponding to a pre-designated point in the future. 
     
     
         33 . The system of  claim 30 , wherein automatically aging said credit history further comprises identifying a required monthly payment amount in installment loans in said consumer's credit history, estimating the portion of payment that is principal on each of said installment loans, and automatically reducing a balance on each of said installment loans by said estimated principal amount. 
     
     
         34 . A system for the automated generation and display of an electronic, single-page summary report aggregating key data from a consumer's multiple electronic credit reports, comprising:
 a summary document creation server computer having executable computer code stored thereon executing a summary document creation engine adapted to:   receive a consumer's credit report data from each of a plurality of credit bureaus;   identify the consumer's current credit scores from said credit report data;   determine a projected mid-score for said consumer resulting from a hypothetical increase in an amount of said consumer's revolving credit;   combine said current credit scores, said forecasted mid-score, and said projected mid-score into a single electronic form summary document; and   transmit said single electronic form summary document to a third party computer.   
     
     
         35 . The system of  claim 34 , wherein determining a projected mid-score further comprises automatically determining at least a first projected mid-score and a second projected mid-score, wherein each of said first and second projected mid-scores is based upon a distinct, hypothetical increase of said consumer's revolving credit in pre-determined amounts. 
     
     
         36 . The system of  claim 35 , wherein said executable computer code is further adapted to display both of said first and second projected mid-scores.