System, method and apparatus for brokering loan applications

• US 20070271175A1
• Filed: 05/17/2006
• Published: 11/22/2007
• Est. Priority Date: 05/17/2006
• Status: Abandoned Application

• Current Assignee: Dennis Shaden
• Original Assignee: Dennis Shaden
• Inventors: Shaden, Dennis
• Application Number:
  US11/435,419
• Publication Number:
  US 20070271175A1
• Time in Patent Office: Days
• US Class Current: 705/38
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof

Abstract

A loan brokering system for providing loan program information to brokers includes a server computer with a processor, a memory and a network interface, the network interface operatively coupling the server computer to a network. The system also includes a loan database coupled to the server computer; a lender interface operating on the server computer for accepting the loan program information and for storing the loan program information in the loan database; and a broker interface operating on the server computer adapted to input borrower information, search the loan database and display loan programs applicable to the borrower information

Claims

1. A loan brokering system for providing loan program information to brokers, the system comprising:

a server computer having a processor, a memory and a network interface, the network interface operatively coupling the server computer to a network;

a loan database operatively coupled to the server computer;

a lender interface operating on the server computer for accepting the loan program information and storing the loan program information in the loan database; and

a broker interface operating on the server computer, the broker interface adapted to input borrower information, adapted to search the loan database for loan programs matching the borrower information and adapted to display the loan programs matching the borrower information.

2. The loan brokering system of claim 1, wherein the broker interface further comprises a direct apply function adapted to connect the broker interface directly to a lender web site through the network.

3. The loan brokering system of claim 2, wherein the broker has a user account and a password for accessing the lender web site.

4. The loan brokering system of claim 1, wherein at least one lender accesses the loan brokering system and the at least one lender inputs the loan program information through the lender user interface.

5. The loan brokering system of claim 1, wherein the loan program information includes a program name, a name of the lender'"'"'s representative, a geographic location, a minimum credit score, a minimum loan amount, a maximum loan amount, a maximum cash-out, a number of trade lines, a maximum loan-to-value, a maximum debt ratio and a number of bankruptcies.

6. The loan brokering system of claim 5, wherein the loan program information further includes an occupancy type, a loan type, loan type details, a loan purpose, a lien type, a residency type, a property type and a documentation type.

7. A method for providing loan program information to loan brokers, the method comprising:

inputting loan program information for at least one loan program;

storing the loan program information into a loan database;

obtaining a borrower'"'"'s loan criteria from a broker;

searching the loan database for at least one loan program matching the borrower'"'"'s loan criteria;

selecting a qualified loan from the at least one loan program matching the borrower'"'"'s loan criteria; and

presenting the qualified loan to the borrower.

8. The method of claim 7, further comprising using a direct-apply web address to access a lender web site and directly applying for a loan.

9. The method of claim 8, wherein the broker has a user account and a password for accessing the lender web site.

10. The method of claim 7, wherein the inputting is done by a lender.

11. The method of claim 7, wherein the loan program information includes a program name, a name of the lender'"'"'s representative, a minimum credit score, a minimum loan amount, a maximum loan amount, a maximum cash-out, a number of trade lines, a maximum loan-to-value, a maximum debt ratio and a number of bankruptcies.

12. The method of claim 11, wherein the loan program information further includes an occupancy type, a loan type, loan type details, a loan purpose, a lien type, a residency type, a property type and a documentation type.

13. The method of claim 7, wherein the borrower'"'"'s loan criteria includes a loan amount, a borrower'"'"'s middle credit score, a property value and a geographic location.

14. The method of claim 13, wherein the borrower'"'"'s loan criteria further includes an occupancy type, a loan type, a loan purpose, a residency type, a property type and a documentation type.

15. The method of claim 13, wherein the geographic location is selected from the group consisting of a lender'"'"'s location, a borrower'"'"'s location and a property location.

16. A computer based method for providing loan program information to loan brokers, the method comprising:

presenting a user interface for inputting loan program information for at least one loan program;

storing the loan program information into a loan database;

presenting a second user interface for obtaining a borrower'"'"'s loan criteria from a broker;

searching the loan database for at least one loan program matching the borrower'"'"'s loan criteria; and

presenting a summary user interface for selecting a qualified loan from the at least one loan program matching the borrower'"'"'s loan.

17. The method of claim 16, further comprising presenting a direct-apply function to allow broker access to a lender web site and to allow directly applying for a loan.

18. The method of claim 17, wherein the broker has a user account and a password for accessing the lender web site.

19. The method of claim 16, wherein the inputting is done by a lender.

20. The method of claim 16, wherein the loan program information includes a program name, a name of the lender'"'"'s representative, a geographic location, a minimum credit score, a minimum loan amount, a maximum loan amount, a maximum cash-out, a number of trade lines, a maximum loan-to-value, a maximum debt ratio and a number of bankruptcies.

21. The method of claim 20, wherein the loan program information further includes an occupancy type, a loan type, loan type details, a loan purpose, a lien type, a residency type, a property type and a documentation type.

22. The method of claim 16, wherein the borrower'"'"'s loan criteria includes a loan amount, a borrower'"'"'s middle credit score, a property value and a geographic location.

23. The method of claim 22, wherein the borrower'"'"'s loan criteria further includes an occupancy type, a loan type, a loan purpose, a residency type, a property type and a documentation type.

24. A computer readable medium including computer programming instructions that cause a computer to perform the method for providing loan program information to loan brokers, the method comprising:

presenting a user interface for inputting loan program information for at least one loan program;

storing the loan program information into a loan database;

presenting a second user interface for obtaining a borrower'"'"'s loan criteria from a broker;

searching the loan database for at least one loan program matching the borrower'"'"'s loan criteria; and

presenting a summary user interface for selecting a qualified loan from the at least one loan program matching the borrower'"'"'s loan criteria.

25. The computer readable medium including computer programming instructions that cause a computer to perform the method for providing loan program information to loan brokers of claim 24, further comprising the method of presenting a direct-apply function to allow the broker to access a lender web site and to allow directly applying for a loan.

26. The computer readable medium including computer programming instructions that cause a computer to perform the method for providing loan program information to loan brokers of claim 24, wherein the inputting is done by a lender.

27. The computer readable medium including computer programming instructions that cause a computer to perform the method for providing loan program information to loan brokers of claim 24, wherein the loan program information includes a program name, a name of the lender'"'"'s representative, a minimum credit score, a minimum loan amount, a maximum loan amount, a maximum cash-out, a number of trade lines, a maximum loan-to-value, a maximum debt ratio and a number of bankruptcies.

28. The computer readable medium including computer programming instructions that cause a computer to perform the method for providing loan program information to loan brokers of claim 27, wherein the loan program information further includes an occupancy type, a loan type, loan type details, a loan purpose, a lien type, a residency type, a property type and a documentation type.

29. The computer readable medium including computer programming instructions that cause a computer to perform the method for providing loan program information to loan brokers of claim 24, wherein the borrower'"'"'s loan criteria includes a loan amount, a borrower'"'"'s middle credit score, a property value and a geographic location.

30. The computer readable medium including computer programming instructions that cause a computer to perform the method for providing loan program information to loan brokers of claim 29, wherein the borrower'"'"'s loan criteria further includes an occupancy type, a loan type, a loan purpose, a residency type, a property type and a documentation type.

31. A computer program product for use with a computer system for providing loan program information to loan brokers, the computer program product comprising:

a computer usable medium having computer-readable code means embodied in the medium, the computer-readable code means comprising;

a plurality of computer readable code means for presenting a user interface for inputting loan program information for at least one loan program;

a plurality of computer readable code means for storing the loan program information into a loan database;

a plurality of computer readable code means for presenting a second user interface for obtaining borrower'"'"'s a loan criteria from a broker;

a plurality of computer readable code means for searching the loan database for at least one loan program matching the borrower'"'"'s loan criteria; and

a plurality of computer readable code means for presenting a summary user interface for selecting a qualified loan from the at least one loan program matching the borrower'"'"'s loan criteria.

32. The computer program product for use with a computer system for providing loan program information to loan brokers of claim 31, further comprising the method of presenting a direct-apply function to allow the broker to access a lender web site and to allow directly applying for a loan.

33. The computer program product for use with a computer system for providing loan program information to loan brokers of claim 31, wherein the inputting is done by a lender.

34. The computer program product for use with a computer system for providing loan program information to loan brokers of claim 31, wherein the loan program information includes a program name, a name of the lender'"'"'s representative, a minimum credit score, a minimum loan amount, a maximum loan amount, a maximum cash-out, a number of trade lines, a maximum loan-to-value, a maximum debt ratio and a number of bankruptcies.

35. The computer program product for use with a computer system for providing loan program information to loan brokers of claim 34, wherein the loan program information further includes an occupancy type, a loan type, loan type details, a loan purpose, a lien type, a residency type, a property type and a documentation type.

36. The computer program product for use with a computer system for providing loan program information to loan brokers of claim 31, wherein the borrower'"'"'s criteria includes a loan amount, a borrower'"'"'s middle credit score, a property value and a geographic location.

37. The computer program product for use with a computer system for providing loan program information to loan brokers of claim 36, wherein the borrower'"'"'s criteria further includes an occupancy type, a loan type, a loan purpose, a residency type, a property type and a documentation type.