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Method and apparatus for a mortgage loan management system

  • US 6,985,886 B1
  • Filed: 08/24/2000
  • Issued: 01/10/2006
  • Est. Priority Date: 03/14/2000
  • Status: Expired due to Fees
First Claim
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1. A computer implemented method for automated loan origination processing comprising:

  • receiving loan application data at a server node;

    automatically generating a loan origination compliance task workflow comprising an organized sequence of a plurality of compliance tasks at the server node in response to the loan application data, the compliance tasks comprising actions required by one or more of a third-party loan originator, a lending institution, and a borrower to originate a loan so that lending institutions compensate third-party loan originators in compliance with federal or state law requirements in effect when the third-party loan originators are compensated, wherein the compliance tasks are dependent on at least one of a federal regulation, a state regulation, a state law, a federal law, a state requirement, and a federal requirement applicable to at least one of a location at which the loan is originated, a location at which the borrower resides, and a location at which a secured property is located; and

    electronically distributing the plurality of compliance tasks to a loan originator for performing one or more of the compliance tasks.

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