Approving and updating dynamic mortgage applications
US12400260B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Apr 22, 2024 |
| Grant date | Aug 26, 2025 |
| Priority date | — |
| Expiry date | Apr 22, 2044 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q50/16
- WIPO fieldComputer technology
- WIPO sectorElectrical engineering
Abstract
A system and computer-implemented method for approving a dynamic mortgage application. In one aspect, the method may include determining a customer is approved for a mortgage and determining a real estate property is mortgage ready, including calculating an appraisal value for the real estate property based upon the information about the real property retrieved from a computer file or memory location/address (such as by using a machine learning or artificial intelligence algorithm). The method may still further include comparing the calculated amount the customer is approved for a mortgage loan with the calculated appraisal value of the real estate property; and approving the mortgage application of the customer for the real estate property when the calculated amount the customer is approved for the mortgage loan meets, or exceeds, the calculated appraisal value of the real estate property.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.