1. A processor-implemented system for evaluating loan applications, comprising: a loan evaluation system for operating on a processor-based system and for evaluating loan applications; a credit assessment framework for operating on the processor-based system and having a data connection to the loan evaluation system; said credit assessment framework using business context and a plurality of factors in order to generate a categorization of credit risk for each of the loan applications to be evaluated; wherein the generated categorization is stored in a computer-readable storage medium and is relative to a plurality of primary underwriting factors via a transaction contour identifier; wherein the transaction contour identifier provides a single number for rating strengths and weaknesses relative to the primary underwriting factors; said credit assessment framework further including a computer system for incorporating judgmental components when generating the categorization of credit risk.