DEVELOPMENT OF FUZZY EXPERT DECISION SUPPORT SYSTEM FOR MORTGAGE ASSESSMENT

Authors

  • Aderonke Justina Ikuomola Department of Mathematical Sciences, Olusegun Agagu University of Science and Technology, Okitipupa, Ondo State, Nigeria
  • Folayemi Victoria Falade Olabisi Onabanjo University

Abstract

One of the common problems that the financial institutions have to deal with is the assessment of risk
posed by a borrower to a lender. Mortgage applications are not an exception. Probabilities models are
often use when dealing with risks generally but this model may not be able to describe risks in a
meaning way. The fuzzy logic rule base has a framework in which experts' constructive input and data
can be used to assess the uncertainty involved and identify major issues, thereby making it easy to
model risks. In this work, a mortgage application assessment model that utilises fuzzy logic was
developed using MATLAB to serve as decision support for determining the credit worthiness or
mortgage worthiness of applicants. The system was developed using MATLAB fuzzy logic tool,
which was tested using mortgage application of ten individuals and the results were compiled

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Published

2022-09-14

Issue

Vol. 11 (2020): SPECIAL EDITION 1

Section

Articles