Method and apparatus for automatically determining the approval status of a potential borrower
First Claim
1. A method for the real-time automatic determination of the approval status of a potential borrower for a loan, comprising the steps of:
- a) transmitting an image of a form by facsimile transmission to a control location wherein said form contains predefined information applicable to said potential borrower, including the identity of the potential borrower, in spaces located at predetermined locations;
b) automatically receiving said image of said form by facsimile transmission at said control location;
c) automatically scanning and interpreting the image of said form to obtain said predefined information;
d) automatically determining at said control location said approval status of said potential borrower according to criteria provided by a lender, wherein said determining step utilizes said predefined information; and
e) automatically transmitting information regarding said approval status from said control location to said potential borrower.
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Accused Products
Abstract
A method and apparatus are provided for the real-time automatic determination of the approval status of a potential borrower of a loan. The method includes (1) transmitting an image of a form by facsimile transmission to a control location, wherein the form contains predefined information applicable to the potential borrower in spaces located at predetermined locations; (2) automatically receiving the image of the form by facsimile transmission at the control location; (3) automatically scanning and interpreting the image of the form to obtain the predefined information; (4) automatically determining at the control location the approval status of the potential borrower according to criteria provided by a lender, wherein the determining step utilizes the predefined information; and (6) automatically transmitting information regarding the approval status from the control location to the potential borrower. The invention further provides for a method and apparatus for scanning and interpreting a coded form received by facsimile transmission such that the form comprises a sheet having a predetermined number of timing marks spaced at predetermined intervals along the right hand and left hand vertical borders of the sheet such that each timing mark along the left hand border is paired with one timing mark along the right hand border. This method includes (1) automatically scanning the form to ascertain the presence and location of the predetermined number of timing marks; (2) automatically locating the vertical center of each timing mark; (3) automatically locating a line between the vertical center of each left hand timing mark to the vertical center of the respective paired right hand timing mark; (4) automatically detecting the spaces in predetermined locations along each line; and (5) automatically obtaining the predefined information applicable to the potential borrower from the spaces.
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Citations
16 Claims
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1. A method for the real-time automatic determination of the approval status of a potential borrower for a loan, comprising the steps of:
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a) transmitting an image of a form by facsimile transmission to a control location wherein said form contains predefined information applicable to said potential borrower, including the identity of the potential borrower, in spaces located at predetermined locations; b) automatically receiving said image of said form by facsimile transmission at said control location; c) automatically scanning and interpreting the image of said form to obtain said predefined information; d) automatically determining at said control location said approval status of said potential borrower according to criteria provided by a lender, wherein said determining step utilizes said predefined information; and e) automatically transmitting information regarding said approval status from said control location to said potential borrower. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9)
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10. A system, for the real-time automatic determination of the approval status of a potential borrower for a loan, said system comprising:
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a) a programmed data processor; b) a form comprising spaces in predetermined locations, wherein said spaces are associated with predefined information applicable to said potential borrower; c) first facsimile transmission means for transmitting an image of said form to a control location; d) first facsimile receiving means at said control location associated with said data processor for receiving the image of said form; e) scanning and interpretation means associated with said data processor for automatically reading the image of said form and storing said predefined information applicable to said potential borrower; f) determining means associated with said data processor for automatically determining said approval status of said potential borrower according to criteria provided by a lender, wherein said determining means utilizes said predefined information; and g) means associated with said data processor at said control location for automatically transmitting information regarding said approval status to said potential borrower. - View Dependent Claims (11, 12, 13, 14, 15, 16)
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Specification