Abstract: The invention relates to the development of systems and methods for assessing a particular loan's financial risk due to process variations that have occurred in the underwriting and closing of the loan. The financial risk associated with a particular loan is expressed in terms of a quantitative score (a financial risk score) indicating the probability of the loan being defaulted on. The systems and methods of the invention provide purchasers of loans with a means to predict, in advance of purchasing a particular loan, the probability of the loan being defaulted on. Lenders who conduct quality control reviews and analyses of denied loan applications, as well as investors who wish to determine the regulatory risk associated with a loan, will also find use for the financial risk score generated by the systems and methods of the invention.