System and method for aggregating financial data for loan processing
First Claim
1. An automated method of aggregating a user'"'"'s financial data for submission to a third party, the method comprising:
- receiving a connection at an electronic data aggregator site from the user;
receiving from the user information identifying electronic storage locations of financial data to be submitted to the third party;
retrieving asset data of the user from one or more electronic asset account sites;
retrieving payroll data of the user from an electronic payroll provider site;
retrieving electronic tax return data of the user; and
presenting the retrieved data to the third party.
1 Assignment
0 Petitions
Accused Products
Abstract
A system and method for aggregating a user'"'"'s financial data for submission to a third party, as part of a loan application or other transaction. The data may include asset data (e.g., statements from bank accounts, investment accounts, retirement accounts), credit data (e.g., statements from credit providers), payroll data (e.g., a W2 statement, pay stubs), tax return data, insurance data, a credit report, etc. The system elicits information from the user to use in retrieving the data (e.g., institution name, account number, login information), retrieves the data and may validate some or all of it (e.g., to ensure it is the user'"'"'s data). Tax return data may be retrieved from the user'"'"'s computing device or may already be stored in the system. The system serves the data to the third party and may also package selected data for submission to another party (e.g., a loan purchaser or underwriter).
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Citations
30 Claims
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1. An automated method of aggregating a user'"'"'s financial data for submission to a third party, the method comprising:
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receiving a connection at an electronic data aggregator site from the user;
receiving from the user information identifying electronic storage locations of financial data to be submitted to the third party;
retrieving asset data of the user from one or more electronic asset account sites;
retrieving payroll data of the user from an electronic payroll provider site;
retrieving electronic tax return data of the user; and
presenting the retrieved data to the third party. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16)
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17. A computer readable medium storing instructions that, when executed by a computer, cause the computer to perform a method of aggregating a user'"'"'s financial data for submission to a third party, the method comprising:
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receiving a connection at an electronic data aggregator site from the user;
receiving from the user information identifying electronic storage locations of financial data to be submitted to the third party;
retrieving asset data of the user from one or more electronic asset account sites;
retrieving payroll data of the user from an electronic payroll provider site;
retrieving electronic tax return data of the user; and
presenting the retrieved data to the third party.
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18. An electronic system for aggregating a user'"'"'s financial data for submission to a third party, the system comprising:
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a user interface configured to elicit from the user information enabling the system to retrieve a first subset of the financial data from external electronic sites other than the third party;
a consumer interface configured to serve the financial data to the third party;
one or more data retrieval modules configured to retrieve the first subset of the financial data from the electronic sites; and
connections to communication links to;
a computing device operated by the user;
the third party; and
the external electronic sites. - View Dependent Claims (19, 20, 21, 22)
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23. A method of receiving aggregated financial data of a user via a data aggregator, the method comprising:
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receiving from the data aggregator a link to an electronic data aggregation site operated by the data aggregator;
providing the link to the user;
connecting to the data aggregation site after the data aggregator aggregates the financial data of the user from multiple electronic locations; and
receiving the aggregated financial data. - View Dependent Claims (24, 25, 26, 27, 28, 29, 30)
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Specification