Method of refinancing a mortgage loan and a closing package for same
First Claim
1. A closing package for a mortgage loan comprising:
- closing documents to be executed by a customer;
at least one document comprising instructions providing guidance to said customer for completing and executing said closing documents in the absence of a meeting, said instructions comprising a checklist of steps for said customer'"'"'s guidance and steps for a notary'"'"'s guidance in said completion and execution of said closing documents; and
at least one document comprising a plurality of acknowledgements, agreements, and disclosures accommodating variations in legal requirements relating to said closing documents.
2 Assignments
0 Petitions
Accused Products
Abstract
A method of refinancing a mortgage loan is provided. The method of refinancing a mortgage loan comprises pre-approving a customer for refinancing of a mortgage loan. This customer is sent a pre-screened offer. The offer comprises materials setting forth the terms of the refinanced mortgage loan, materials providing all required pre-acceptance disclosures, and instructions describing how the customer may accept the offer. Upon receiving an indication of acceptance of the offer from the customer, a closing package is sent to the customer to be executed by the customer. The execution of the closing package by the customer creates a refinancing loan agreement. Also provided is a closing package for a mortgage loan comprising closing documents and a format and instructions providing specific guidance to the customer for completion and execution of the closing documents.
94 Citations
5 Claims
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1. A closing package for a mortgage loan comprising:
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closing documents to be executed by a customer;
at least one document comprising instructions providing guidance to said customer for completing and executing said closing documents in the absence of a meeting, said instructions comprising a checklist of steps for said customer'"'"'s guidance and steps for a notary'"'"'s guidance in said completion and execution of said closing documents; and
at least one document comprising a plurality of acknowledgements, agreements, and disclosures accommodating variations in legal requirements relating to said closing documents.
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2. A method of refinancing a mortgage loan comprising:
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pre-approving a customer for refinancing of a mortgage loan;
sending an offer for said refinancing to said customer, said offer comprising materials setting forth terms of said refinanced mortgage loan, materials providing pre-acceptance disclosures and conditions, and instructions describing how said customer may accept said offer;
at least one of said terms of said refinanced mortgage loan comprising a specific, locked interest rate;
receiving an indication of acceptance of said offer from said customer; and
sending a closing package to said customer to be executed by said customer, said closing package comprising closing documents to be executed by said customer, at least one document comprising instructions providing guidance to said customer for completing and executing said closing documents in the absence of a meeting, said instructions comprising a checklist of steps for said customer'"'"'s guidance and steps for a notary'"'"'s guidance in said completion and execution of said closing documents, and at least one document comprising a plurality of acknowledgements, agreements, and disclosures accommodating variations in legal requirements relating to said closing documents, said execution of said closing documents by said customer creating a refinancing loan agreement.
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3. A method of refinancing a mortgage loan comprising:
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pre-approving a customer for refinancing of a mortgage loan;
sending an offer for said refinancing to said customer, said offer comprising materials setting forth terms of said refinanced mortgage loan, materials providing pre-acceptance disclosures and conditions, and instructions describing how said customer may accept said offer;
at least one of said terms of said refinanced mortgage loan comprising a specific, locked interest rate;
receiving an indication of acceptance of said offer from said customer; and
sending a closing package to said customer to be executed by said customer, said closing package comprising closing documents to be executed by said customer, at least one document comprising instructions providing guidance to said customer for completing and executing said closing documents in the absence of a meeting, said execution of said closing documents by said customer creating a refinancing loan agreement.
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4. A method of refinancing a mortgage loan comprising:
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pre-approving a customer for refinancing of a mortgage loan;
sending an offer for said refinancing to said customer, said offer comprising materials setting forth terms of said refinanced mortgage loan, materials providing pre-acceptance disclosures, and instructions describing how said customer may accept said offer;
at least one of said terms of said refinanced mortgage loan comprising an interest rate and a term length;
receiving an indication of acceptance of said offer from said customer; and
sending a closing package to said customer to be executed by said customer, said closing package comprising closing documents to be executed by said customer, at least one document comprising instructions providing guidance to said customer for completing and executing said closing documents in the absence of a meeting, said execution of said closing documents by said customer creating a refinancing loan agreement.
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5. A method of refinancing a mortgage loan comprising:
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receiving a request to refinance a mortgage loan from a customer;
communicating an offer for said refinancing to said customer, said offer comprising materials setting forth terms of said refinanced mortgage loan, materials providing pre-acceptance disclosures, and instructions describing how said customer may accept said offer;
at least one of said terms of said refinanced mortgage loan comprising a specific interest rate and a specific term length;
receiving an indication of acceptance of said offer from said customer; and
sending a closing package to said customer to be executed by said customer, said closing package comprising closing documents to be executed by said customer, at least one document comprising instructions providing guidance to said customer for completing and executing said closing documents in the absence of a meeting, said instructions comprising a checklist of steps for said customer'"'"'s guidance and steps for a notary'"'"'s guidance in said completion and execution of said closing documents, and at least one document comprising a plurality of acknowledgements, agreements, and disclosures accommodating variations in legal requirements relating to said closing documents, said execution of said closing documents by said customer creating a refinancing loan agreement.
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Specification