SYSTEM FOR ANALYZING LOAN DATA
First Claim
1. A computer-implemented method of assisting borrowers in shopping for loans and associated closing services, the method comprising:
- receiving financial data of a borrower via a computer network;
identifying a plurality of mortgage loans for which the borrower qualifies based at least partly on said financial data, said plurality of mortgage loans including loans offered by at least one lender;
identifying, in connection with the plurality of mortgage loans, closing services and associated closing costs, said closing services offered by service providers other than the at least one lender; and
outputting, for presentation to the borrower via a user interface of a web site, information regarding the set of mortgage loans and the closing services, said information including, for each of the plurality of loans, a total cost of each loan, including said associated closing costs for closing services;
said method performed by a computer-based system.
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Accused Products
Abstract
A system and method are disclosed for a borrower to obtain and/or evaluate desired financial services. Personal information from the borrower is obtained and recorded. A credit grading for the borrower is determined based on the personal information, and based on pre-established and objective criteria used by at least one established financial institution that provides financing of the type sought by the borrower. The credit grading is determined by an independent entity (or its computer system) that will not provide the financing to the borrower. The financing may be a loan, such as a mortgage loan or an auto loan or the financing may be the issuance of a credit card or a line of credit. The independent entity may also compile a comparison of closing costs associated with the financial transactions.
54 Citations
20 Claims
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1. A computer-implemented method of assisting borrowers in shopping for loans and associated closing services, the method comprising:
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receiving financial data of a borrower via a computer network; identifying a plurality of mortgage loans for which the borrower qualifies based at least partly on said financial data, said plurality of mortgage loans including loans offered by at least one lender; identifying, in connection with the plurality of mortgage loans, closing services and associated closing costs, said closing services offered by service providers other than the at least one lender; and outputting, for presentation to the borrower via a user interface of a web site, information regarding the set of mortgage loans and the closing services, said information including, for each of the plurality of loans, a total cost of each loan, including said associated closing costs for closing services; said method performed by a computer-based system. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10)
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11. A system for shopping for a loan and associated closing services, the system comprising:
a computer system that hosts a web site that is accessible to borrowers, said computer system configured to implement a process that comprises; receiving financial data of a borrower via a computer network; identifying a plurality of mortgage loans for which the borrower qualifies based at least partly on said financial data, said plurality of mortgage loans including loans offered by at least one lender; identifying, in connection with the plurality of mortgage loans, closing services and associated closing costs, said closing services offered by service providers other than the at least one lender; and outputting, for presentation to the borrower via a user interface of the web site, information regarding the set of mortgage loans and the closing services, said information including, for each of the plurality of loans, a total cost of each loan, including said associated closing costs for closing services. - View Dependent Claims (12, 13, 14, 15, 16, 17, 18, 19, 20)
Specification