Escrow Tab Mobile Application System and Method
AssigneeEscrowTab, Inc.
InventorsKolin Blain Porter, Adam McCurry Carlson, Tim Gilker
Life of this patent
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Abstract
The present invention, EscrowTab mobile application system and method comprises automating, reviewing, executing, and transmitting documents used in real estate financial transactions by providing document data visualization on a mobile device allowing for review and execution of financial closing documents, such as promissory notes, deeds of trust and financial documents on a mobile device such as a tablet and relaying these documents to and from the originating financial institution, via means of the internet or dedicated communications media.
Claims20
A Document Data Visualization system and method for review and execution and notary seal of contractual documents comprising the following:
- i. Automating contractual documents by a lending institution by providing editable layers in PDF format of the contractual documents;
- ii. Transmitting in electronic format of the editable layers in PDF format of the contractual documents to a mobile device;
- iii. Reviewing the contractual documents by an agent and contracting parties on said mobile device by scrolling through the contractual documents in editable layers in PDF format;
- iv. Executing the contractual documents transmitted electronically in editable layers in PDF format on said mobile device by a signature made by a contracting party on the mobile device displaying the editable layers using a digital pen;
- v. Providing a notary seal of a notary in said editable layers of contractual documents in PDF format;
- vi. Executing a notary seal in said editable layers of the contractual documents by providing an electronic signature by the notary whose seal appears on said editable layers in PDF format of the contractual documents;
- vii. Transmitting said contractual documents in editable layers in PDF format to the lending institution in electronic format from the mobile device;
- and
- viii. Storing of said contractual documents in editable layers in PDF format in an electronic storage medium.
An EscrowTab system and method to create real estate contractual documents in electronic format and transmit these documents to a mobile device for review, for execution by digital signature, for notarization by a notary, and for transmitting executed and notarized documents to a lending institution comprising the steps of:
- i. Creating an MISMO compliant document as a PDF electronic document;
- ii. Securely sending said PDF electronic document to a Title Company;
- iii. Securely sending said PDF electronic document to a mobile device for borrower review and execution by digital signature on said mobile device;
- iv. Providing a notary seal on said PDF electronic document for digital signature by a notary;
- and
- v. Securely sending said PDF electronic document to a lending institution.
An EscrowTab mobile application system and method to overlay editing of a PDF document with editable areas for signing and placing image stamps comprising:
- i. providing use of editable layers of a PDF electronic contractual document on a mobile device;
- ii. providing full screen editable signing areas on said PDF electronic contractual document to recreate paper based experience of signing documents with an agent, notary, and borrower signing and initialing said PDF electronic contractual document;
- iii. providing signing states for agents, notary, and borrower signing and initialing said PDF electronic contractual document;
- iv. destroying said PDF electronic contractual document on said mobile device after completing review and execution of said PDF electronic contractual document;
- v. providing algorithms in the EscrowTab mobile application to improve handwriting detection on said mobile device and detecting pen over hand touches for right and left handed people;
- vi. optimizing to only save image and editable areas and flatten onto PDF electronic format excluding areas with no signage;
- vii. providing digital image notary stamps on editable layers of said PDF electronic contractual document;
- viii. transmitting of said editable layers of said PDF electronic contractual document via internet or a dedicated medium to said mobile device;
- ix. providing digital re-creation of physical paper signing to said mobile device by digital pens;
- x. providing secure editing and signing of documents that are transmitted from lending companies to said mobile device to agents and include a notary as part of the process;
- xi. creating flow of digital documents that are only readable by the agent and client while being signed, when signing is complete the document on the client application is destroyed;
- and
- xii. storing securely said signed and unsigned versions of electronic PDF documents.
Dependencies are inferred from the claim text.