System and method for processing a loan

US8489498B1 · kind B1 · utility

Assignee

• Fannie Mae · US

Inventors

• David Flaxman · Bethesda, US
• Minerva L. Tantoco-Hobbs · Washington, US
• Anne M. Murphy Kobus · Silver Spring, US
• Michael Koch · Radebeul, DE
• Daniel Packer · Rockville, US
• Peter G. Plofchan · Washington, US
• Richard C. Pomeroy · Chinook, US

Key dates

• Filing date: Dec 30, 2005
• Grant date: Jul 16, 2013
• Expiry date: Jun 24, 2031

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q40/04
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

A computer-implemented mortgage loan application data processing system comprises a workflow engine and workflow analysis logic. The workflow engine has stored therein a list representing tasks that need to be performed in connection with a mortgage loan application associated with a lender. The workflow engine is configured to prompt users to perform the tasks and to track performance of the tasks. The workflow analysis logic includes fallout prediction logic configured to receive status information from the workflow engine concerning status of the tasks that need to be performed in connection with the mortgage loan application. The workflow analysis logic is configured to predict a probability of fallout for the mortgage loan application based on the status information.