System for online lending services via an application service provider network

• US 20110112946A1
• Filed: 08/15/2003
• Published: 05/12/2011
• Est. Priority Date: 08/15/2003
• Status: Active Grant

• Current Assignee: Mortgage Application Technologies, LLC
• Original Assignee: Larry Porter
• Inventors: Porter, Larry
• Granted Patent: US 8,548,902 B2
• Time in Patent Office: Days
• US Class Current: 705/35
• CPC Class Codes: G06F 16/116 Details of conversion of file system types or formats
• CPC Class Codes: G06F 16/23 Updating
• CPC Class Codes: G06F 16/2379 Updates performed during online database operations; commit processing
• CPC Class Codes: G06F 40/117 Tagging; Marking up details of markup languages G06F40/143; Designating a block; Setting of attributes style sheets, e.g. eXtensible Stylesheet Language Transformation [XSLT], G06F40/154
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: H04L 63/102 Entity profiles

Abstract

A method for online lending services with the creation and population of loan applications and other related documents in Portable Document Format (PDF) for subsequent access by applicant and other entities. Consumers use their Web browsers for access and said method includes an Application Service Provider (ASP) architecture, a loan origination site interface, and a secure server facility.

Claims

1. A system for online loan origination services comprising:

a application service provider (ASP) server system for dynamically importing consumer mortgage loan application data from a loan origination server and for dynamically exporting said mortgage loan application data to lenders, comprising;

a queue manager that receives and queues completed loan applications over the internet;

an application server configured to periodically poll said queue manager for new loan applications and to extract data from said loan applications;

an SQL data server for populating a resident SQL database with the extracted data, inclusive of an Adobe®

Acrobat-generated application form stored in binary in the SQL database;

a messaging server for providing email notification of successful extraction.

2. The online lending service according to claim 1, wherein said server system further comprises a Web Server for hosting a loan originator website, a queue manager server for storing mortgage applications submitted by consumers through the loan originator website, an application server for dynamically extracting data from said queue manager server at periodic intervals, an SQL data server for storing said extracted data in binary PDF format, and a messaging server for generating electronic messages to signal completion of said dynamic extraction.

3. The online lending service according to claim 2, wherein consumers, having completed and submitted a loan application to said loan originator, can use any remote computer equipped with a conventional web browser to view their own application as an Adobe®

®

PDF document.

4. A method for online lending services comprising the steps of:

queuing loan applications completed by consumers;

extracting data from said loan applications at periodic intervals and populating a central SQL database with said extracted data;

automatically notifying a lender that said extracted data is ready for processing;

exporting said extracted data to said lender.

5. The method for online lending services according to claim 4, wherein said step of extracting data from said loan applications at periodic intervals further comprises storing said extracted data in said SQL database in binary Adobe®

Acrobat PDF format.

6. A method of processing loan applications, comprising the steps of:

temporarily storing loan application data as entered by a consumer on a first server hosted by a loan originator in Extensible Markup Language;

dynamically extracting said loan application data at periodic intervals in Extensible Markup Language to a second server and storing said loan application data thereon in SQL format;

providing web-access to said loan application data for viewing by said consumer as well as lenders and loan originators.

7. A method of providing ASP services to process loan applications, comprising the steps of:

hosting a third party loan origination website adapted to accept loan applications;

hosting a server system configured to poll said third party loan origination website for newly-completed loan applications, and to dynamically extract select loan application data therefrom at periodic intervals;

hosting a separate database server and storing the extracted loan application data thereon in SQL format in an SQL database;

providing web-access to said loan application data for viewing by said consumer as well as lenders and loan originators.

8. The method for providing ASP services to process loan applications according to claim 7, wherein said server system is also adapted to store a complete copy of said loan applications as an Adobe®

PDF file stored in said SQL database in binary format for ready cross-platform access.