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US 2014/0156502 A1Published application
Conducting a loan
OwnerAnthony Orso, Jill Weinstein +4inventors
InventorsAnthony Orso, Jill Weinstein, Brett Katz, Michael Brown, Michael May, Patrick Quinn
Life of this patent
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Abstract
Methods and systems are disclosed for conducting a loan, including a construction loan, and fully funding the loan at closing.
Claims14
A method comprising:
- entering into by a lender a loan agreement with a borrower, wherein the lender loans a loan amount to the borrower;
- and
- fully funding by the lender the loan at closing, including:
- electronically transferring a first portion of the loan amount to at least a first account of the borrower;
- and
- electronically transferring a second portion of the loan amount to at least a second account of the borrower,
- wherein the first portion and the second portion to the loan amount,
- wherein the first portion is immediately accessible to the borrower for use by the borrower, and
- wherein the second portion is accessible to the borrower upon authorization from the lender.
6 more elements
Dependencies are inferred from the claim text.