Electronic loan preparation and loan selection system

• US 20110071939A1
• Filed: 09/17/2010
• Published: 03/24/2011
• Est. Priority Date: 09/20/2009
• Status: Abandoned Application

• Current Assignee: John Hendrik Park, Senate Langston
• Original Assignee: John Hendrik Park, Senate Langston
• Inventors: Park, John Hendrik, Langston, Senate
• Application Number:
  US12/807,874
• Publication Number:
  US 20110071939A1
• 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

This is a utility patent application for a new method that allows users (borrowers) to obtain mortgage financing.

Claims

1. A software system comprised of the ability for users to compile and submit ACTUAL required information and documentation in an effort to obtain mortgage financing without the need of human interaction (e.g. Mortgage Brokers, Loan Processors, Loan Officers, etc.)

2. A software system that allows users to submit required information and documentation directly to lenders in a manner that meets industry standards.

3. A software system that allows users to choose loan products based on ACTUAL verified financial data.

4. A software system that allows users to select from a vast array of loan products. This list extends beyond a single mortgage broker'"'"'s portfolio or a single lender'"'"'s portfolio. This list is limited only by number of lenders on the system. Ideally, if all lenders participate in the system, then user will have access to all possible loan products they qualify for.