Back to results
US 2014/0006256 A1Published application
Mortgage loan data processing system and method for a loan broker
AssigneeIsourceloans LLC
InventorsRussell W. McDonald, Russell W. McDonald, II
Life of this patent
Estimating the term…
Abstract
An exemplary embodiment includes a data processing system and method for managing the origination of a mortgage loan by a loan originator in coordination with a loan broker for a loan customer. The loan originator is not the loan broker. The loan originator provides services necessary for the origination of the mortgage loan and not duplicative of services provided by the loan broker.
Claims51
1-20. (canceled)
A system comprising:
- a MLS (Multiple Listing Service) interface adapted to receive MLS data;
- a lender interface adapted to receive one or more rates from one or more lenders, each of the one or more rates comprising one or more loan parameters;
- an interface adapted to receive loan customer information;
- one or more processors adapted to generate one or more qualifying programs based on the MLS data and at least one of the one or more rates, when the loan customer information is within the one or more loan parameters;
- and
- a display interface adapted to display at least one of the one or more qualifying programs.
3 more elements
A system comprising:
- a lender interface adapted to receive one or more rates, each of the one or more rates comprising one or more loan parameters;
- a loan originator interface adapted to receive loan customer information about a loan customer from a loan originator;
- one or more processors, at least one of the one or more processors generating one or more qualifying programs based on at least one of the one or more rates when the loan customer information is within the one or more loan parameters;
- and
- a display interface adapted to display to the originator at least one of the one or more qualifying programs.
2 more elements
A system comprising:
- a graphical user interface adapted to receive loan application data from a loan originator regarding a loan customer;
- one or more storage devices adapted to store the loan application data;
- one or more data interfaces adapted to receive additional data, the receipt of the additional data coordinated by the loan originator;
- and
- one or more processors adapted to generate, based on the loan application data and the additional data, one or more disclosure documents when necessary to comply with one or more of a lending law, a lending regulation, a lending guideline, and a licensing requirement.
2 more elements
A system comprising:
- a lender interface adapted to receive one or more loan details for a loan product, the loan details comprising a pre-determined formula;
- a loan originator interface adapted to receive loan customer information about a loan customer from a loan originator;
- and
- one or more processors adapted to determine a credit based on the loan details and the loan customer information using the pre-determined formula.
1 more element
A system comprising:
- a first interface adapted to receive loan data regarding a loan customer from a loan originator, the loan data comprising a plurality of required data items;
- a storage device adapted to store the loan data;
- a second interface adapted to receive from an automated underwriting system one of:
- an approval, or one or more conditions;
- and
- one or more processors adapted to generate a loan application based on the loan data and one of:
- the approval, or
- the one or more conditions.
5 more elements
A system comprising:
- a first interface adapted to receive loan data regarding a loan customer from a loan originator, the loan data comprising a plurality of required data items;
- a storage device adapted to store the loan data;
- a second interface adapted to:
- transfer an AUS (Automated Underwriting System) submission to an automated underwriting system, the AUS submission comprising the required data items;
- and
- based on the required data items, receive from the automated underwriting system one of:
- one or more conditions,
- a notification that the AUS submission is not approved,
- a request for non-automated underwriting ,
- one or more reasons for the request,
- a denial, and
- one or more reasons for denial;
- and
- one or more processors adapted to generate a notification, the notification notifying the loan originator about one or more of:
- at least one of the one or more conditions,
- the AUS submission is not approved,
- the request for non-automated underwriting,
- at least one of the one or more reasons for the request,
- the denial, and
- at least one of the one or more reasons for denial.
17 more elements
A system comprising:
- a loan origination interface adapted to receive from a first entity loan application data regarding a loan customer;
- a memory adapted to store the loan application data;
- a qualification data interface adapted to receive from a second entity a plurality of qualification items;
- one or more processors adapted to:
- determine, based on the loan application data and the plurality of qualification items, whether the loan application data is complete enough to comply with one or more of a lending law, a lending regulation, a lending guideline, and a licensing requirement;
- and
- contact the first entity when the loan application data is incomplete.
4 more elements
A system comprising:
- a loan origination interface adapted to receive from a first entity loan application data regarding a loan customer;
- a memory adapted to store the loan application data;
- a qualification data interface adapted to receive from a second entity a plurality of qualification items, wherein one or more of the plurality of qualification items are required qualification items;
- and
- one or more processors adapted to:
- determine based on the loan application data and the plurality of qualification items whether the loan application data is complete enough to comply with one or more of a lending law, a lending regulation, a lending guideline, and a licensing requirement based on completion of the required qualification items.
3 more elements
A system comprising:
- a loan origination interface adapted to receive from a first entity loan application data regarding a loan customer;
- a memory adapted to store the loan application data;
- a qualification data interface adapted to receive from a second entity a plurality of qualification items, wherein one or more of the plurality of qualification items are required qualification items;
- and
- one or more processors adapted to:
- indicate the required qualification items;
- and
- determine, based on the loan application data and completion of the required qualification items, whether the loan application data is complete enough to comply with one or more of a lending law, a lending regulation, a lending guideline, and a licensing requirement.
5 more elements
A system comprising:
- an interface adapted to receive loan data regarding loan customer from a loan originator, the loan data comprising a property;
- a storage device adapted to store the loan data;
- a service provider interface adapted to receive a service provider data report, the service provider data report based on the property;
- and
- one or more processors adapted to generate one or more of an approval and a loan application based on the loan data and the service provider data report.
2 more elements
A system comprising:
- an interface adapted to receive loan data regarding loan customer from a loan originator, the loan data comprising a property;
- a storage device adapted to store the loan data;
- a first processor adapted to:
- determine when service provider data is required, and
- instruct the loan originator to order a service provider data report;
- a service provider interface adapted to receive a service provider data report, the service provider data report based on the property, the service provider data report received at the request of the loan originator;
- and
- a second processor adapted to generate one or more of an approval and a loan application based on the loan data and the service provider data report.
5 more elements
A system comprising:
- a graphical user interface adapted to receive loan application data from a loan originator regarding a loan customer;
- one or more storage devices adapted to store the loan application data;
- one or more data interfaces adapted to receive additional data, the receipt of the additional data coordinated by the loan originator;
- and
- one or more processors adapted to generate a loan approval based upon the loan application data and the additional data.
2 more elements
A system comprising:
- an input interface adapted to receive loan application data from a loan originator;
- a memory adapted to store loan application data;
- one or more processors adapted to:
- determine, based on the loan application data, one or more additional items necessary to generate a loan application in order to comply with one or more of:
- one or more lending laws,
- one or more lending regulations,
- one or more lending guidelines, and
- one or more licensing requirements, and
- generate a loan application based on the loan application data and the completion of the one or more additional items, wherein the completion of the one or more additional items is coordinated by the loan originator.
6 more elements
A system comprising:
- an input interface adapted to receive loan application data regarding a loan;
- a memory adapted to store loan application data;
- one or more processors adapted to determine, based on the loan application data, additional steps that are necessary by one or more of a loan customer, a loan originator, a lender, and an investor to process the loan in order to comply with one or more of:
- one or more lending laws,
- one or more a lending regulations,
- one or more lending guidelines, and
- one or more licensing requirements.
4 more elements
Dependencies are inferred from the claim text.