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US 7,742,980 B1Granted
Automated loan approval system
AssigneeImx, Inc.
InventorLawrence Klein
Life of this patent
Estimating the term…
Abstract
The invention provides a method and system capable of automatic loan approval, in which lenders can both provide information to brokers regarding their loan policies, and in which brokers can obtain information regarding likely lender treatment of prospective borrowers. Thus, brokers search a database of possible loan programs made available by lenders, rather than lenders searching a database of possible loans made available by brokers.
Claims14
Apparatus including
- a database of loan programs,
- said loan programs
- being associated with one or more possible lenders,
- each said loan program
- being associated with a set of loan approval rules;
- a search element
- coupled to said database and
- responsive to at least one of
- a broker history of loan approvals,
- a broker history of loan performance,
- associated with a broker
- associated with said possible loan request;
- and
- an automated approval element
- coupled to said search element and
- coupled to said loan approval rules.
13 more elements
A method, including steps of
- maintaining a database of loan programs,
- said loan programs
- being associated with
- one or more possible lenders,
- each said loan program
- being associated with
- a set of loan approval rules;
- searching said database
- responsive to at least one of
- a broker history of loan approvals,
- a broker history of loan performance,
- associated with a broker
- associated with a possible loan request;
- and
- providing automated approval
- of one or more
- selected said possible loan requests
- in response to
- said steps of searching.
16 more elements
Dependencies are inferred from the claim text.