Escrow accommodation system

• US 20030023548A1
• Filed: 07/27/2001
• Published: 01/30/2003
• Est. Priority Date: 07/27/2001
• Status: Active Grant

• Current Assignee: Ruben G. Duran
• Original Assignee: Ruben G. Duran
• Inventors: Duran, Ruben G.
• Granted Patent: US 8,140,430 B2
• Time in Patent Office: Days
• US Class Current: 705/39
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0641 Shopping interfaces
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes

Abstract

An escrow accommodation system adapted for deployment in the offices of brokers, mortgage companies, lending institutions and title insurers to facilitate remote video-conferencing of potential buyers and sellers with independent escrow agents. The system includes a first client subsystem disposed in a first office. The first client subsystem includes a microprocessor, software running on the microprocessor for facilitating an escrow arrangement, a camera coupled to the microprocessor, and a display coupled to the computer. A second client subsystem is provided in a second office. The second client subsystem includes a microprocessor, software running on the microprocessor for facilitating an escrow arrangement, a camera coupled to the microprocessor, and a display coupled to the microprocessor. The first and second client subsystems are connected via a network. In the illustrative embodiment, the software includes code for receiving customer escrow data and displaying a list of escrow companies. In various alternative embodiments, the list is customized based on user data and/or broker data. As taught herein, the software includes code for establishing a videoconference between the first client and the second client via the network. The network may be either a public network such as the Internet or a private or virtually private network. The software further includes code for facilitating an escrow opening meeting online. Code is also included for running customized applications based on input from an escrow agent, a customer, a broker or other third party.

Claims

1. An escrow accommodation system comprising:

a first client subsystem disposed in a first office, said first client subsystem including;

a microprocessor,

software running on said microprocessor for facilitating an escrow arrangement,

a communication device coupled to said microprocessor, and

a display coupled to said microprocessor;

a second client subsystem disposed in a second office, said second client subsystem including;

a microprocessor,

software running on said microprocessor for facilitating an escrow arrangement,

a communication device coupled to said microprocessor, and

a display coupled to said microprocessor; and

a network connecting said first and second client subsystems.

2. The invention of claim 1 wherein said software includes code for receiving customer escrow data.

3. The invention of claim 1 wherein said software includes code for displaying a list of escrow companies.

4. The invention of claim 3 wherein said list is customized based on said user data.

5. The invention of claim 3 wherein said list is customized based on said broker data.

6. The invention of claim 1 wherein said software includes code for establishing a video-conference between said first client and said second client via said network.

7. The invention of claim 1 wherein said software includes code for facilitating an escrow opening meeting online.

8. The invention of claim 7 wherein said software includes code for running customized applications.

9. The invention of claim 8 wherein said applications are customized based on the parameters provided by an escrow agent, a customer, and or a third party.

10. The invention of claim 9 wherein said third party is a real estate broker.

11. The invention of claim 1 wherein said software includes code for retrieving an existing escrow account.

12. The invention of claim 1 wherein said display is a flat-panel display.

13. The invention of claim 1 wherein said network is the Internet.

14. The invention of claim 1 wherein said network is a private network.

15. The invention of claim 1 wherein said first office is an escrow office.

16. The invention of claim 15 wherein said escrow office is an independent escrow office.

17. The invention of claim 16 including plural first client subsystems disposed in plural respective independent escrow offices.

18. The invention of claim 16 wherein said second office is a broker'"'"'s office.

19. The invention of claim 18 including plural second client subsystems disposed in plural respective brokers offices.

20. The invention of claim 16 wherein said second office is a title insurance office.

21. The invention of claim 1 wherein said communication device is a camera.