Product, system and method for certification of closing and mortgage loan fulfillment
US8527401B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Oct 24, 2005 |
| Grant date | Sep 3, 2013 |
| Priority date | — |
| Expiry date | Jan 23, 2029 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/08
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A computer system and method for processing a mortgage loan receives borrower, property, loan and underwriting data entered by a lender via a certifying company Internet web site. The system, which is operated by the certifying company, communicates with outside service provider systems to order and obtain products there from. The system is loaded with lender parameters for assessing loan risk. The system uses the entered data, outside service provider products and lender parameters to provide a loan assessment and a mortgage loan fulfillment product if the assessment is favorable. The mortgage loan fulfillment product includes a loan package, deed of trust, a promissory note, a title insurance policy and a loan fulfillment certification of the process compliance and data integrity.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.