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US 8,527,402 B2Granted
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.
Claims83
A system comprising:
- a graphical user interface adapted to receive loan application data from a loan originator regarding a loan customer, wherein the receipt of loan application data is a first loan originator service;
- one or more storage devices adapted to store the loan application data;
- one or more additional graphical user interfaces for receiving additional data, the receipt of the additional data coordinated by the loan originator, wherein the receipt of additional data is a second loan originator service;
- a processor adapted to generate a loan application based on the loan application data and the additional data;
- and
- a loan application transfer interface that electronically transfers the loan application to a computer associated with a lender, wherein first and second loan originator services are not duplicative of a lender's services such that the loan originator qualifies for compensation under one or more of:
- a law regulating loan origination compensation,
- a regulation regulating loan origination compensation,
- a guideline relating to loan origination compensation, and
- a licensing requirement regulating loan origination compensation.
7 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 for receiving additional data, the receipt of the additional data coordinated by the loan originator;
- and
- a processor adapted to generate, based upon the loan application data and the additional data:
- a loan application;
- and
- an indication that the loan originator qualifies for a loan originator compensation amount under one or more of:
- a law regulating loan origination compensation,
- a regulation regulating loan origination compensation,
- a guideline relating to loan origination compensation, and
- a licensing requirement regulating loan origination compensation.
9 more elements
A system comprising:
- an electronic import interface for importing pre-stored customer data about a loan customer from a loan originator computer;
- a memory for storing the pre-stored customer data;
- an input device for inputting loan application data;
- and
- a processor for generating, based upon the pre-stored customer data and the loan application data:
- a loan application;
- and
- an indication that the loan originator qualifies for a loan originator compensation amount under one or more of:
- a law regulating loan origination compensation,
- a regulation regulating loan origination compensation,
- a guideline relating to loan origination compensation, and
- a licensing requirement regulating loan origination compensation.
9 more elements
A data processing system adapted to manage origination of a mortgage loan by a loan originator in coordination with a loan broker distinct from the loan originator for a loan customer distinct from the loan originator using already possessed data for the loan customer, wherein the loan originator provides services necessary for origination of the mortgage loan and not duplicative of services provided by the loan broker, comprising:
- a computer and graphical interfaces adapted to:
- collect data regarding the loan customer not previously possessed by the loan originator, and
- generate a loan application for the loan customer regarding the not previously possessed data and the already possessed data regarding the loan customer, and
- generate disclosure documents regarding the mortgage loan and the already possessed data and the not previously possessed data regarding the loan customer;
- and
- a modem or Ethernet card adapted to transfer the loan application to a computer associated with the loan broker, wherein the services are verified to be compliant with one or more of:
- a law regulating loan origination compensation,
- a regulation regulating loan origination compensation,
- a guideline relating to loan origination compensation, and
- a licensing requirement regulating loan origination compensation.
7 more elements
A data processing system adapted to manage the origination of a mortgage loan by a loan originator in coordination with a loan broker distinct from the loan originator for a loan customer distinct from the loan originator using already possessed data for the loan customer, who is an existing client of the loan originator, wherein the loan originator provides services necessary for the origination of the mortgage loan and not duplicative of services provided by the loan broker, comprising:
- a computer and associated peripheral adapted to:
- import already possessed data by the loan originator regarding the loan customer,
- collect data regarding the loan customer not previously possessed by the loan originator,
- generate a loan application for the loan customer based upon the not previously possessed data and the already possessed data, both regarding the loan customer, and
- generate disclosure documents based upon the mortgage loan and the already possessed data and the not previously possessed data regarding the loan customer;
- and
- a modem or Ethernet card adapted to transfer the loan application to a computer associated with the loan broker wherein the services are verified to be compliant with one or more of:
- a law regulating loan origination compensation,
- a regulation regulating loan origination compensation,
- a guideline relating to loan origination compensation, and
- a licensing requirement regulating loan origination compensation.
8 more elements
A method comprising:
- receiving, via a graphical user interface, a loan application data from a loan originator regarding a loan customer;
- storing, using one or more storage devices, the loan application data;
- receiving, using one or more data interfaces, additional data the receipt of the additional data coordinated by the loan originator;
- and
- generating, using a processor, based upon the loan application data and the additional data:
- a loan application;
- and
- an indication on one or more of the graphical user interface and a disclosure document that the loan originator qualifies for a loan originator compensation amount under one or more of:
- a law regulating loan origination compensation,
- a regulation regulating loan origination compensation,
- a guideline relating to loan origination compensation, and
- a licensing requirement regulating loan origination compensation.
9 more elements
A method comprising:
- importing, using an electronic import interface, pre-stored customer data about a loan customer from a loan originator computer;
- storing, using a memory, the pre-stored customer data;
- receiving, from an input device, loan application data;
- and
- generating, using a processor, based upon the pre-stored customer data and the loan application data:
- a loan application;
- and
- an indication on one or more of the graphical user interface and a disclosure document that the loan originator qualifies for a loan originator compensation amount under one or more of:
- a law regulating loan origination compensation,
- a regulation regulating loan origination compensation,
- a guideline relating to loan origination compensation, and
- a licensing requirement regulating loan origination compensation.
9 more elements
Dependencies are inferred from the claim text.