US 2003/0144949 A1 · Web-based mortgage broker application

Abstract

The Web-based mortgage broker application is a software program which provides a mortgage broker with a quick summary of loan fees and mortgage loan underwriting conditions before formal submission to a mortgage lender. The program executes on a server computer and is accessible by the broker from a client computer through the Internet using a browser. The program provides Web pages having drop-down lists from which the mortgage broker selects the desired loan parameters. The program computes add-on fees and determines underwriting conditions and guidelines from the parameters entered, and displays the results. The Web-based mortgage broker application permits the broker to determine whether the underwriting condition for a given loan can be met before formal submission to a lender, and accelerates lender processing by eliminating the need to re-analyze a loan submission.

Claims18

Dependent claims

A computer program product that includes a medium readable by a processor, the medium having stored thereon a set of instructions for a Web-based mortgage broker application, comprising:

(a) a first sequence of instructions which, when executed by the processor, causes said processor to publish a loan query Web page over a network, the Web page having a plurality of drop-down list boxes from which a user may display and select parameters for a mortgage loan, a script routine for calculating mortgage loan add-on fees based upon parameters selected from the drop down list boxes, and having a submit button for submitting the parameters selected to a Web server;
(b) a second sequence of instructions which, when executed by the processor, causes said processor to retrieve updated mortgage loan add-on fees for selected mortgage loan parameters, re-compute add-on fees when add-on fees have changed, and to send a Web page displaying the re-computed add-on fees to a client computer;
and
(c) a third sequence of instructions which, when executed by the processor, causes said processor to determine mortgage loan underwriting conditions based upon the parameters selected and to send a Web page displaying the mortgage loan underwriting conditions to the client computer.

1 more element

A Web-based mortgage broker application system for computing mortgage loan fees and determining mortgage loan underwriting conditions, comprising:

(a) a computer having a processor, an area of main memory for executing program code under the direction of the processor, and a disk storage device for storing data and program code;
(b) a data communications device connected to a network using hypertext transfer protocol, said computer being configured as a Web server;
(c) a software program code stored in said disk storage device and executing in main memory under the direction of said microprocessor, the software program including:
(i) pricing means for publishing a loan query Web page over a network, the Web page having a plurality of drop-down list boxes from which a user may display and select parameters for a mortgage loan, a script routine for calculating mortgage loan add-on fees based upon parameters selected from the drop down list boxes, and a submit button for submitting the parameters selected to a Web server;
(ii) update means for retrieving updated mortgage loan add-on fees for selected mortgage loan parameters, re-computing add-on fees when add-on fees have changed, and sending a Web page displaying the re-computed add-on fees to a client computer;
and
(iii) condition means for determining mortgage loan underwriting conditions based upon the parameters selected, and for sending a Web page displaying the mortgage loan underwriting conditions to the client computer.

4 more elements

Dependencies are inferred from the claim text.

Web-based mortgage broker application

Life of this patent

Web-based mortgage broker application

Life of this patent

Abstract

Claims18