Mortgage loan application method and apparatus
First Claim
Patent Images
1. A method for computer processing mortgage loan applications, comprising:
- a. inputting a database into an online computer processor the requirements to qualify for a mortgage loan, b. inputting a computer software program into the online computer processor to process input data to determine if a loan applicant qualifies for a mortgage loan, c. entering online or downloading onto a designated personal computer the computer software program and database before entering into the desired computer processor input data of a loan applicant'"'"'s loan information by filling out a series of data input screens displayed on a computer terminal, d. testing the completeness of the data input screens with color code indicia indicating if the loan information on the data screens is complete before computer processing, e. sending for computer processing the input data to an approval center to determine if a loan applicant qualifies for a mortgage loan after all of the data screens are complete, and f. having the computer center issue an approval or denial of the mortgage loan application.
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Abstract
A computerized method and apparatus for simplifying the complicated mortgage loan application process via inputting loan application data on a series of electronic screens utilizing indicia indicating if the form is complete or incomplete via red, yellow, and green light signals before generating loan documents for submittal and approval or denial.
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Citations
28 Claims
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1. A method for computer processing mortgage loan applications, comprising:
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a. inputting a database into an online computer processor the requirements to qualify for a mortgage loan, b. inputting a computer software program into the online computer processor to process input data to determine if a loan applicant qualifies for a mortgage loan, c. entering online or downloading onto a designated personal computer the computer software program and database before entering into the desired computer processor input data of a loan applicant'"'"'s loan information by filling out a series of data input screens displayed on a computer terminal, d. testing the completeness of the data input screens with color code indicia indicating if the loan information on the data screens is complete before computer processing, e. sending for computer processing the input data to an approval center to determine if a loan applicant qualifies for a mortgage loan after all of the data screens are complete, and f. having the computer center issue an approval or denial of the mortgage loan application. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14)
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15. An apparatus for computer processing mortgage loan applications, comprising:
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a. a designated computer in communication with or an computer processor, b. a database inputted into the computer processor of the requirements to qualify for a mortgage loan, c. a computer software program inputted into the online or downloaded into a designated personal computer processor to process input data to determine if a loan applicant qualifies for a mortgage loan, d. a computer terminal associated with the computer processor for inputting into the online or designated computer processor data of a loan applicant'"'"'s loan information by filling out a series of data input screens displayed on the computer terminal, said data screens programmed to test the completeness of the data input screens with color code indicia indicating if the loan information on the data screens is complete before computer processing, e. an output device associated with the computer terminal for issuing an approval or denial of a mortgage loan application after the computer processes the input data to determine if a loan applicant qualifies for a mortgage loan after all of the data screens are complete.
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- 16. An apparatus for computer processing mortgage loan applications according to claim 16, wherein the color code indicia sequentially change from RED indicating no information in a folder, YELLOW indicating some information in a folder, to GREEN indicating all information required is in a folder.
Specification