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OwnerVicki Fitzgerald, Tamara Gilbert +17inventors
InventorsVicki Fitzgerald, Tamara Gilbert, Julie Nevitt, Amy Perry, Janet Sorg, Colleen Watson, Michelle Ancil, Tracy Kamleiter, Janet Mikeworth, Jim Rang, Diane Capps, Tony Marichal, Chris Thieman, Heather Graham, Stacy Gibson, Keith D'Ambra, John Pittman, Robert Autor, Chester Gorski
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The present invention provides a computer-based system and method for providing processing loan consolidation applications. The method includes accepting a consolidation application from a borrower, the consolidation application containing information about a borrower and underlying loans to be consolidated. The application is validated to determine that the consolidation application is complete. Payoff information is obtained for the underlying loans and a disbursement date for the consolidated loan is set based on the payoff information. The lender of the consolidation loan is automatically determined. Funding to payoff the underlying loans is requested from the lender. The underlying loans are consolidated into the consolidated loan and payment information is received regarding the payoff of the underlying loans.
A system for consolidating loans, the system comprising:
A method of providing a consolidation loan for borrowers, the method comprising the steps of:
A computer program transmitted over a communication medium to a computer system, the computer system comprising a storage device and a processor in communication with the storage device, the computer program causing the processor to perform the acts of:
Dependencies are inferred from the claim text.