Method and system for loan closing
US8024261B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | May 22, 2007 |
| Grant date | Sep 20, 2011 |
| Priority date | — |
| Expiry date | Nov 30, 2027 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/02
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A method and system for electronically facilitating loan closing transactions that include sub-transactions involving third parties. The method and system provide functionality to quickly and easily order a sub-transaction and bill the respective party, or pay for the sub-transaction directly from various payment systems. An interactive closing document updates automatically as different services and sub-transactions are ordered. Designated parties to the transaction make and approve changes and updates to the interactive document as sub-transactions are completed and billed. The interactive document receives information from the earlier stages of the loan or mortgage transaction, and incorporates the information into the interactive closing document. Upon approval by all parties, at the closing of the transaction, the interactive closing document is generated as a hard copy for signature.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.