System and method for generating residential loan documents from multiple and diverse databases
First Claim
1. A system for preparing documents, comprising:
- a first database, wherein said first database stores data provided by a first user;
at least one additional database, wherein said at least one additional database stores data provided by at least one additional user;
a comparison engine, located on a network server, and coupled to said first and said at least one additional database by a network connection, wherein said comparison engine compares data provided by said first user and said at least one additional user and identifies discrepancies between said data;
a forms library containing document templates;
a documentation preparation engine operable to receive additional information required to prepare the documents, wherein a compliance engine determines if reconciled data and said additional information are consistent with procedures for processing said data, and wherein noncompliant reconciled data or additional information is further reconciled; and
a documentation delivery engine operable to populate data fields within said documents templates and deliver said populated documents.
0 Assignments
0 Petitions
Accused Products
Abstract
The present invention provides a system for preparing loan documents that uses multiple and diverse databases. The present invention uses a first database to store data and procedures for processing data provided by a mortgage originator. A second database stores data and procedures from an investor for processing the provided data. A comparison engine compares the provided data and identifies discrepancies between the originator and investor data and allows those discrepancies to be viewed and reconciled. A documentation preparation engine receives additional information from the users to prepare loan documents with the reconciled data and any additional information. A compliance engine audits the reconciled data and additional information to ensure consistency with procedures and compliance requirements and allows noncompliant data to be identified and reconciled. Documents from the forms library are then populated with the information and delivered by a documentation delivery engine to the end user.
150 Citations
27 Claims
-
1. A system for preparing documents, comprising:
-
a first database, wherein said first database stores data provided by a first user;
at least one additional database, wherein said at least one additional database stores data provided by at least one additional user;
a comparison engine, located on a network server, and coupled to said first and said at least one additional database by a network connection, wherein said comparison engine compares data provided by said first user and said at least one additional user and identifies discrepancies between said data;
a forms library containing document templates;
a documentation preparation engine operable to receive additional information required to prepare the documents, wherein a compliance engine determines if reconciled data and said additional information are consistent with procedures for processing said data, and wherein noncompliant reconciled data or additional information is further reconciled; and
a documentation delivery engine operable to populate data fields within said documents templates and deliver said populated documents. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8)
-
-
9. A system for preparing loan documents, comprising:
-
a first database, wherein said first database stores data and procedures for processing said data provided by a mortgage originator;
at least one additional database, wherein said at least one additional database stores data and procedures for processing said data provided by an investor;
a comparison engine, wherein said comparison engine compares data provided by said mortgage originator to data provided by said investor and identifies discrepancies between said data provided by said mortgage originator and said investor;
a user interface wherein said mortgage originator or said investor reconciles said discrepancies;
a forms library containing loan document templates;
a documentation preparation engine operable to receive additional information required to prepare the documents, wherein a compliance engine determines if said reconciled data and said additional information are consistent with said procedures for processing said data provided by said mortgage originator and said investor, and wherein noncompliant reconciled data or additional information is reconciled; and
a documentation delivery engine operable to populate data fields within said loan document templates and transmit information consistent with procedures provided by said mortgage originator and said investor, and deliver said populated documents. - View Dependent Claims (10, 11, 12, 13, 14, 15, 16)
-
-
17. A method of preparing loan documents, comprising the steps of:
-
storing data and procedures for processing said data provided by a mortgage originator in a first database;
storing data and procedures for processing said data provided by an investor in at least one additional database;
comparing data provided by said mortgage originator to data provided by said investor;
identifying discrepancies between said data provided by said mortgage originator and said investor;
reconciling said discrepancies;
supplying additional information to prepare the documents to a documentation preparation engine;
auditing said reconciled discrepancies and said additional information with a compliance engine that determines if said reconciled data and said additional information are consistent with said procedures for processing said data provided by said mortgage originator and said investor, and wherein noncompliant reconciled data or additional information is reconciled;
populating data and additional information consistent with procedures for processing said data provided by said mortgage originator and said investor into documents contained within a forms library; and
delivering said populated documents for execution. - View Dependent Claims (18, 19, 20, 21, 22, 23, 24, 25, 26, 27)
-
Specification