Method of and system for evaluating an appraisal value associated with a loan
US7987124B1 · kind B1 · utility
Assignee
Inventors
Key dates
| Filing date | Aug 18, 2005 |
| Grant date | Jul 26, 2011 |
| Priority date | — |
| Expiry date | Jan 15, 2028 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/06
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A method of and system for evaluating an appraisal value associated with a loan are disclosed. The method includes receiving an appraisal value and at least one of foreclosure sale data and purchase money transaction data associated with a loan in a computerized system. The method also includes estimating the accuracy of the appraisal value based the at least one of foreclosure sale data and purchase money transaction data. The system includes memory configured to store an appraisal value and at least one of foreclosure sale data and purchase money transaction data associated with the loan. The system also includes a processor coupled to the memory and operable to execute programmed instructions, wherein the programmed instructions are configured to estimate the accuracy of the appraisal value based on the at least one of foreclosure sale data and purchase money transaction data.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.