Loan management system and methods

US8660942B2 · kind B2 · utility

Assignee

• Advance Loan Technologies LLC · US

Inventors

• Devon Cohen · Wellington, US
• Barbara Dolan · Boca Raton, US
• Eugene Pratasenia · Naples, US
• Mikalai Varnitski · Fort Myers, US
• Peter J. Buggeln · Boca Raton, US
• Leslie Kevin Suttles · Coral Springs, US
• Christopher J. Wheaton · Snohomish, US

Key dates

• Filing date: Jan 3, 2012
• Grant date: Feb 25, 2014
• Expiry date: Jan 3, 2032

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q40/03
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

A system for managing loans and loan leads is described. The loan and loan lead management system features software and hardware that permit loan applications to be received, submitted, and processed in an automated electronic process while also generating leads based on loan applicants whose loan applications are rejected or withdrawn that may be sold to other lenders. Another module of the system's software permits loan applicant information to be cross-checked against databases containing details concerning defaulted borrowers to enhance the ability of lenders to engage in collection efforts against debtors. The system may also be installed at a retail location to provider store-level loan application submission and processing that can generate resalable leads that can be transmitted by a system administrator to lead purchasers.