System and method for transferring mortgage loan servicing rights
First Claim
1. A computer-implemented system for facilitating sale of a mortgage loan, the mortgage loan having a loan asset and a servicing asset, the system comprising:
- machine-executable instructions stored in memory, the machine-executable instructions being executable by a machine to implement logic including;
committing logic configured to receive a loan commitment from a lender;
servicing execution logic coupled to the committing logic, the servicing execution logic being configured to receive servicing-released pricing from one or more servicers for purchasing the servicing asset of the loan from the lender, the servicing execution logic being further configured to select one of the one or more servicers as a purchaser for a servicing asset of the mortgage loan from the lender based upon parameters specified by at least one of the lender or the servicers; and
funding logic configured to disburse net servicing-released pricing funds for the servicing asset from the selected servicer to the lender, the net servicing-released pricing funds comprising gross servicing-released pricing funds less escrows and fees charged by the selected servicer, the funding logic configured to disburse the net servicing-released pricing funds after closing of the loan such that the selected servicer and not the lender supports and manages the servicing asset after closing of the loan.
1 Assignment
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Accused Products
Abstract
A computer-implemented system for facilitating sale of a mortgage loan comprises committing logic and servicing execution logic. The committing logic is configured to receive a loan commitment from a lender. The servicing execution logic is coupled to the committing logic. The servicing execution logic is configured to receive servicing-released pricing from one or more servicers for purchasing a servicing asset of the loan from the lender. The servicing execution logic is further configured to select one of the one or more servicers as a purchaser for a servicing asset of the mortgage loan from the lender based upon parameters specified by the servicers and/or by the lender.
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Citations
32 Claims
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1. A computer-implemented system for facilitating sale of a mortgage loan, the mortgage loan having a loan asset and a servicing asset, the system comprising:
machine-executable instructions stored in memory, the machine-executable instructions being executable by a machine to implement logic including; committing logic configured to receive a loan commitment from a lender; servicing execution logic coupled to the committing logic, the servicing execution logic being configured to receive servicing-released pricing from one or more servicers for purchasing the servicing asset of the loan from the lender, the servicing execution logic being further configured to select one of the one or more servicers as a purchaser for a servicing asset of the mortgage loan from the lender based upon parameters specified by at least one of the lender or the servicers; and funding logic configured to disburse net servicing-released pricing funds for the servicing asset from the selected servicer to the lender, the net servicing-released pricing funds comprising gross servicing-released pricing funds less escrows and fees charged by the selected servicer, the funding logic configured to disburse the net servicing-released pricing funds after closing of the loan such that the selected servicer and not the lender supports and manages the servicing asset after closing of the loan. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30)
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31. A computer-implemented system for facilitating sale of a mortgage loan, the mortgage loan having a loan asset and a servicing asset, the system comprising:
machine-executable instructions stored in memory, the machine-executable instructions being executable by a machine to implement logic including; committing logic configured to receive a loan commitment from a lender; servicing execution logic coupled to the committing logic, the servicing execution logic being configured to receive servicing-released pricing from one or more servicers for purchasing the servicing asset of the loan from the lender, the servicing execution logic being further configured to select one of the one or more servicers as a purchaser for a servicing asset of the mortgage loan from the lender based upon parameters specified by at least one of the lender or the servicers; and user interface logic configured to provide a user interface accessible to servicers by way of a communication network, wherein the user interface logic is configured to provide pipeline management screen displays configured to provide a respective servicer with information concerning a servicing asset pipeline of the servicer, wherein the screen displays are configured to provide status information concerning loans in the servicing asset pipeline of the servicer, wherein the screen displays include a screen display configured to show servicing commitment details for a respective one of the loans.
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32. A computer-implemented system for facilitating sale of a mortgage loan, the mortgage loan having a loan asset and a servicing asset, the system comprising:
machine-executable instructions stored in memory, the machine-executable instructions being executable by a machine to implement logic including; committing logic configured to receive a loan commitment from a lender; servicing execution logic coupled to the committing logic, the servicing execution logic being configured to receive servicing-released pricing from one or more servicers for purchasing the servicing asset of the loan from the lender, the servicing execution logic being further configured to select one of the one or more servicers as a purchaser for a servicing asset of the mortgage loan from the lender based upon parameters specified by at least one of the lender or the servicers; and funding logic configured to disburse net servicing-released pricing funds for the servicing asset from the selected servicer to the lender, wherein the net servicing-released pricing funds are disbursed from the selected servicer to the lender as payment for the servicing asset, the net servicing-released pricing funds comprising gross servicing-released pricing funds less escrows and fees charged by the selected servicer, the funding logic configured to disburse the net servicing-released pricing funds after closing of the loan such that the selected servicer and not the lender supports and manages the servicing asset after closing of the loan.
Specification