We recorded the provenance of the above decision, from which explanations about the decision can be generated. If you have queries about the above decision, some explanations can be found below by clicking on the corresponding questions below.
Whether a decision made solely by automated means without any meaningful human involvement.
The loan application was automatically approved based on a combination of your loan application and third party data: your credit reference and your FICO score.
A loan application assessment may consider several types of data about the applicant, such as credit scores, or other publicly available information.
The data Company Co considered for your loan application is the number of open credit lines, the number of derogatory public records, the number of public record bankruptcies, total credit revolving balance, the month your earliest reported credit line was opened, revolving line utilization rate, the number of mortgage accounts, the state, the self-reported annual income, the purpose of the loan, the loan title, the home ownership status, the address, employment length in years, type of application, the self-reported job title, the number of payments on the loan, the listed amount of the loan, your lower FICO score and your higher FICO score.
Some information you provided may not be used, either because it is not legal to do so orthe organisation deemed it is not relevant to the decision of approving your loan.
The data that Company Co excluded for the processing of your loan application are the number of mortgage accounts, type of application, employment length in years, the loan title provided by you, the self-reported job title, the number of derogatory public records, the address and the number of public record bankruptcies.
Data considered by a credit institution may come from a variety of sources.
The data sources were your credit reference (credit_history/369) provided by credit referencing agency (credit_agency) at <2020-10-10T18:27:09.957958>, your loan application (applications/369) provided by you (applicants/369) and your FICO score (fico_score/369) provided by credit referencing agency (fico) at <2020-10-11T10:09:38.507064>.
Data used in loan decision making may be collected a long time ago and no longer relevant.
The external data sources were your credit reference (credit_history/369) provided by credit referencing agency (credit_agency) at <2020-10-10T18:27:09.957958> and your FICO score (fico_score/369) provided by credit referencing agency (fico) at <2020-10-11T10:09:38.507064>.
Data correctness may not be guaranteed: the applicant may have made a typo in their application or the data provided by a third-party may be inaccurate.
You can check the data supplied in your original application for any inaccuracy.
In addition, we obtained the following data from third-party providers:
We also calculated the following data from the above and your supplied application data:
An automated decision may be sensitive to a particular demographic such as whether the loan applicant owns a home or not, for instance. In this demonstrator, you can test such sensitivity over home ownership by running a counter-factual test over this characteristic.
The decision pipeline will be run on your application again but with different value on the home_ownership field (compared to what you provided in the application form). The possible values for this field are: OWN, MORTGAGE, RENT, and OTHER.