Expert systems

Expert systems for mortgages

An expert system for mortgages is a computer program that contains the knowledge and analytical skills of human authorities, related to mortgage banking. Loan departments are interested in expert systems for mortgages because of the growing cost of labor which makes the handling and acceptance of relatively small loans less profitable. They also see in the application of expert systems a possibility for standardized, efficient handling of mortgage loans, and appreciate that for the acceptance of mortgages there are hard and fast rules which do not always exist with other types of loans. Since most interest rates for mortgages are controlled by the government, intense competition sees to it that a great deal in terms of business depends on the quality of service offered to clients - who shop around for the loan best suiting their needs. Expert systems for mortgages considers the key factors which enter the profitability equation. For instance, “part and parcel of the quality of a mortgage loans portfolio to the bank is the time which elapses between the first contact with the customer and the bank's offering of a loan. Another key ingredient is the fact that home loans have significant features which are not always exploited through classical DP approaches. The expert system corrects this failure”. The expert system also capitalizes on regulatory possibilities. In France, the government subsidizes one type of loan which is available only on low-cost properties (the HLM) and to lower income families. Known as "frets Conventionnes", these carry a rate of interest lower than the rate on the ordinary property loan from a bank. The difficulty is that granting them is subject to numerous regulations, concerning both: * the home which is to be purchased, and * the financial circumstances of the borrower. To assure that all conditions have been met, every application has to be first processed at branch level and then sent to a central office for checking, before going back to the branch, often with requests for more information from the applicant. This leads to frustrating delays. Expert system for mortgages takes care of these by providing branch employees with tools permitting them to process an application correctly, even if a bank employee does not have an exact knowledge of the screening procedure. (Wikipedia).

Video thumbnail

Expert Systems Lesson 1 - Using an expert system

In this lesson we talk about what an expert system is and we also use the expert system I have created to get a feel of what an expert system does. Subtitles: English Link to expert system used in video:http://magicmonktutorials.com/IT/expertsystem/index.html Link to lesson 2: https://w

From playlist Expert Systems / Robotics

Video thumbnail

Joseph Stiglitz on the Fall of Lehman Brothers

New videos DAILY: https://bigth.ink/youtube Join Big Think Edge for exclusive videos: https://bigth.ink/Edge ---------------------------------------------------------------------------------- ---------------------------------------------------------------------------------- ABOUT BIG TH

From playlist Nobel Prize winners | Big Think

Video thumbnail

How To Create Mortgage Processing Smart Contract | Introduction | #ethereum | #blockchain

Don’t forget to subscribe! In this project, we will learn to create a Mortgage Processing Smart Contract. We will focus on a simple illustrative application to address a potential use case in the mortgage space — Smart contracts can automate mortgage contracts by automatically connectin

From playlist Create Mortgage Processing Smart Contract

Video thumbnail

How To Create Mortgage Processing Smart Contract | Session 01 | #ethereum | #blockchain

Don’t forget to subscribe! In this project, we will learn to create a Mortgage Processing Smart Contract. We will focus on a simple illustrative application to address a potential use case in the mortgage space — Smart contracts can automate mortgage contracts by automatically connectin

From playlist Create Mortgage Processing Smart Contract

Video thumbnail

The Great Recession | International Economic Institutions | The Great Courses

The Great Recession was like a liquor tumbler of misused financial tools, misapplied risk models, interest rate mistakes, and bad government guidance on credit policy—and we all got dragged to the bar for shots. Line up for a hotly-debated risk management question of the tool versus its us

From playlist Latest Uploads

Video thumbnail

The role of digital identity in mortgage eligibility decisions

Edward Curran, KTP Associate / Systems Engineer, Newcastle University / Atom Bank The 2019 Mortgages Market Study published by the FCA found that about 30% of consumers could have qualified for a cheaper, almost identical mortgage (Financial Conduct Authority, 2019). This barrier can be u

From playlist Turing trustworthy digital identity conference

Video thumbnail

How To Create Mortgage Processing Smart Contract | Session 05 | #ethereum | #blockchain

Don’t forget to subscribe! In this project, we will learn to create a Mortgage Processing Smart Contract. We will focus on a simple illustrative application to address a potential use case in the mortgage space — Smart contracts can automate mortgage contracts by automatically connectin

From playlist Create Mortgage Processing Smart Contract

Video thumbnail

How To Create Mortgage Processing Smart Contract | Session 03 | #ethereum | #blockchain

Don’t forget to subscribe! In this project, we will learn to create a Mortgage Processing Smart Contract. We will focus on a simple illustrative application to address a potential use case in the mortgage space — Smart contracts can automate mortgage contracts by automatically connectin

From playlist Create Mortgage Processing Smart Contract

Video thumbnail

How To Create Mortgage Processing Smart Contract | Session 10 | #ethereum | #blockchain

Don’t forget to subscribe! In this project, we will learn to create a Mortgage Processing Smart Contract. We will focus on a simple illustrative application to address a potential use case in the mortgage space — Smart contracts can automate mortgage contracts by automatically connectin

From playlist Create Mortgage Processing Smart Contract

Video thumbnail

1. Why Finance?

Financial Theory (ECON 251) This lecture gives a brief history of the young field of financial theory, which began in business schools quite separate from economics, and of my growing interest in the field and in Wall Street. A cornerstone of standard financial theory is the efficient mar

From playlist Financial Theory with John Geanakoplos

Video thumbnail

How the 2008 Financial Crisis Still Affects You

-- About ColdFusion -- ColdFusion is an Australian based online media company independently run by Dagogo Altraide since 2009. Topics cover anything in science, technology, history and business in a calm and relaxed environment. » Podcast I Co-host: https://www.youtube.com/channel/UC6jKU

From playlist All My Videos

Video thumbnail

How To Create Mortgage Processing Smart Contract | Session 07 | #ethereum | #blockchain

Don’t forget to subscribe! In this project, we will learn to create a Mortgage Processing Smart Contract. We will focus on a simple illustrative application to address a potential use case in the mortgage space — Smart contracts can automate mortgage contracts by automatically connectin

From playlist Create Mortgage Processing Smart Contract

Video thumbnail

Understanding the Financial Crisis and What It Means to You

From Wall Street to Main Street, Americans are reeling from the current financial crisis. Hear a panel of Stanford experts discuss perspectives on the crisis and what is to come. Recorded October 10, 2008. Panelists: John Shoven (Director, Stanford Institute for Economic Policy Research

From playlist Reunion Homecoming

Video thumbnail

How To Create Mortgage Processing Smart Contract | Session 04 | #ethereum | #blockchain

Don’t forget to subscribe! In this project, we will learn to create a Mortgage Processing Smart Contract. We will focus on a simple illustrative application to address a potential use case in the mortgage space — Smart contracts can automate mortgage contracts by automatically connectin

From playlist Create Mortgage Processing Smart Contract

Video thumbnail

Things Aren't Looking Great for the UK

There's been turmoil in the markets surrounding the UK pound. In this episode we take a look. --- About ColdFusion --- ColdFusion is an Australian based online media company independently run by Dagogo Altraide since 2009. Topics cover anything in science, technology, history and business

From playlist Business

Video thumbnail

Pension And Mortgage Panic!

The Bank of England had to step in to calm markets after the British government's economic plan sparked a fall in the pound and caused borrowing costs to surge. The Bank warned that if the market volatility continued there would be a "material risk to UK financial stability". Patrick's B

From playlist What is Happening In The Market?

Video thumbnail

The Great Recession: Understanding How Economists Responded | The Great Courses Plus

The Great Recession of 2008 was so concerning, the Federal Reserve took risky and unprecedented moves to stop the downward spiral of the American economy. It expanded its policy initiatives and the levels of commitment it made to soften the blow. Needless to say, these actions caused some

From playlist American History

Video thumbnail

Strata 2012: Jonathan Gosier, "Democratization of Data Platforms"

Big data isn't just an abstract problem for corporations, financial firms, and tech companies. To your mother, a 'big data' problem might simply be too much email, or a lost file on her computer. We need to democratize access to the tools used for understanding information by taking the h

From playlist Strata SC 2012

Video thumbnail

How To Create Mortgage Processing Smart Contract | Session 06 | #ethereum | #blockchain

Don’t forget to subscribe! In this project, we will learn to create a Mortgage Processing Smart Contract. We will focus on a simple illustrative application to address a potential use case in the mortgage space — Smart contracts can automate mortgage contracts by automatically connectin

From playlist Create Mortgage Processing Smart Contract

Related pages

Expert system | Logico-linguistic modeling | Artificial intelligence