Method for mortgage customer retention

• US 20010044772A1
• Filed: 05/16/2001
• Published: 11/22/2001
• Est. Priority Date: 05/17/2000
• Status: Active Grant

• Current Assignee: Aboutyourmortgage LLC
• Original Assignee: Edward Wollman, Timothy D. Allen
• Inventors: Allen, Timothy D., Wollman, Edward
• Granted Patent: US 8,660,939 B2
• Time in Patent Office: Days
• US Class Current: 705/38
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/108 Remote banking, e.g. home banking
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof

Abstract

This invention relates generally to a method and system by which mortgage customers are linked to their existing mortgage servicer via an improved Internet process for achieving a mortgage modification, by their existing mortgage servicing institution rather than by a mortgage refinancing with loss of the customer to another servicing institution.

Claims

1. A process for mortgage customer retention by a mortgage servicing institution which comprises the steps of:

(a) capturing user indicia information input by a mortgagee;

(b) identification of the mortgagee'"'"'s mortgage servicing institution either through information input by said mortgagee or by using said input information to determine said mortgagee'"'"'s mortgage servicing institution by comparison with a database of mortgaging servicing institutions;

(c) linking said mortgagee with said mortgagee'"'"'s mortgage servicing institution; and

(d) notification of the mortgage servicing institution.

2. The process of

claim 1

which further comprises

(a) securing permission of said mortgagee prior to notification of said mortgaging institution.

3. The process of

claim 2

which further comprises

(a) identification of said mortgagee'"'"'s mortgage servicing institution by a mortgagee'"'"'s credit report.

4. The process of

claim 3

which further comprises

(a) electronically parsing said mortgagee'"'"'s credit report to identify at least one of said mortgagee'"'"'s mortgage servicing institutions.

5. The process of

claim 1

which further comprises

(a) displaying at least one of said mortgagee'"'"'s mortgage servicing institution customer retention programs.

6. The process of

claim 5

wherein

(a) said customer retention programs further comprises at least one of:

(i) home equity loan options,

(ii) refinance options,

(iii) bi-weekly mortgage program options, and

(iv) mortgage modification options.

7. The process of

claim 1

which further comprises

(a) performing a mortgage modification on said mortgagee'"'"'s mortgage.

8. A process for mortgage customer retention by a mortgage servicing institution which comprises the steps of:

(a) capturing user indicia information input by a mortgagee;

(b) identification of the mortgagee'"'"'s mortgage servicing institution by a mortgagee'"'"'s credit report;

(c) linking said mortgagee with said mortgagee'"'"'s mortgage servicing institution; and

(d) notification of the mortgage servicing institution.

9. The process of

claim 8

which further comprises

(a) securing permission of said mortgagee prior to notification of said mortgaging institution.

10. The process of

claim 8

which further comprises

(a) electronically parsing said mortgagee'"'"'s credit report to identify at least one of said mortgagee'"'"'s mortgage servicing institutions.

11. The process of

claim 10

which further comprises

(a) displaying at least one mortgagee servicing institutions on a computer screen after electronically parsing said mortgagee'"'"'s credit report.

12. The process of

claim 8

which further comprises

(a) displaying mortgagee'"'"'s mortgage servicing institution customer retention programs.

13. The process of

claim 12

wherein

(a) said customer retention programs further comprises at least one of:

(i) home equity loan options,

(ii) refinance options,

(iii) bi-weekly mortgage program options, and

(iv) mortgage modification options.

14. The process of

claim 8

which further comprises

(a) performing a mortgage modification on said mortgagee'"'"'s mortgage.

15. A process for mortgage customer retention by a mortgage servicing institution which comprises the steps of:

(a) capturing user indicia information input by a mortgagee;

(b) identification of at least one of said mortgagee'"'"'s mortgage servicing institutions by a mortgagee'"'"'s credit report;

(c) displaying at least one of said mortgagee'"'"'s servicing institutions on a computer screen after reading said mortgagee'"'"'s credit report;

(d) linking said mortgagee with at least one of said mortgagee'"'"'s mortgage servicing institution; and

(e) notification of said mortgage servicing institution.

16. The process of

claim 15

which further comprises

(a) securing permission of said mortgagee prior to notification of said mortgaging institution.

17. The process of

claim 15

which further comprises

(a) electronically parsing said mortgagee'"'"'s credit report to identify at least one of said mortgagee'"'"'s mortgage servicing institutions and displaying at least one of said mortgagee servicing institutions on a computer screen after electronically parsing said mortgagee'"'"'s credit report.

18. The process of

claim 15

which further comprises

(a) displaying at least one mortgagee'"'"'s mortgage servicing institution customer retention programs.

19. The process of

claim 18

wherein

(a) said customer retention programs further comprises at least one of:

(i) home equity loan options,

(ii) refinance options,

(iii) bi-weekly mortgage program options, and

(iv) mortgage modification options.

20. The process of

claim 15

which further comprises

(a) performing a mortgage modification on said mortgagee'"'"'s mortgage.