Approving and updating dynamic mortgage applications
US12002090B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Dec 23, 2021 |
| Grant date | Jun 4, 2024 |
| Priority date | — |
| Expiry date | May 17, 2042 |
Classification
- Technology area (CPC H)Electricity
- CPC primaryH04L2209/56
- WIPO fieldDigital communication
- WIPO sectorElectrical engineering
Abstract
A system and computer-implemented method for approving a dynamic mortgage application using a blockchain. In one aspect, the method may include determining a customer is approved for a mortgage (“mortgage ready”) and determining a real estate property is mortgage ready. The method may include comparing a calculated amount in which the customer is approved for a mortgage loan with a calculated appraisal value of the real estate property, and approving the mortgage application of the customer when the calculated amount the customer is approved for the mortgage loan is equal to, or exceeds, the calculated appraisal value of the real estate property, reducing a processing time and closing time of the mortgage.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.