Method and system for updating a loan portfolio with information on secondary liens
First Claim
1. A computer-based method of updating a client loan portfolio with information on secondary liens, comprising:
- receiving, using a processor, property data from the client loan portfolio;
iteratively monitoring, using the processor, at least one database for secondary liens relatable to the property data; and
updating, using the processor, the property data from the client loan portfolio if a previously undetected secondary lien relatable to the property data is detected.
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Accused Products
Abstract
A computer-based method of updating a client loan portfolio with information on secondary liens relatable to portfolio properties includes inputting property data from the portfolio, monitoring a secondary lien database for secondary liens relatable to the property data, and notifying the client if a secondary lien is detected. Notifying the client may include generating a secondary lien report containing an AVM score or a CLTV ratio, and updating the portfolio by generating a new version of the portfolio that includes secondary liens detected during monitoring. A system may include a client station for inputting data for monitoring, an FTP server for uploading the data from the client station, and a mainframe server for standardizing the data, searching databases for secondary liens, calculating the AVM score and CLTV ratio, and generating the secondary lien report for delivery to the client station via the FTP server.
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Citations
25 Claims
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1. A computer-based method of updating a client loan portfolio with information on secondary liens, comprising:
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receiving, using a processor, property data from the client loan portfolio; iteratively monitoring, using the processor, at least one database for secondary liens relatable to the property data; and updating, using the processor, the property data from the client loan portfolio if a previously undetected secondary lien relatable to the property data is detected. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10)
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11. A tangible, computer readable medium comprising program instructions, wherein the program instructions cause a computer to:
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receive property data from a client loan portfolio; iteratively monitor for secondary liens relatable to the property data; and update the property data from the client loan portfolio if a previously undetected secondary lien relatable to the property data is detected. - View Dependent Claims (12, 13, 14, 15)
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16. A system for updating a loan portfolio with information on secondary liens, comprising:
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a processor configured to receive loan data from the loan portfolio; and a server coupled to the processor and accessing the loan data, the server having; a search engine configured to iteratively monitor at least one database for secondary liens relatable to the loan data, and a report module configured to update the loan data when a previously undetected secondary lien relatable to the loan data is detected. - View Dependent Claims (17, 18, 19, 20)
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21. A computer-based method of updating a client loan portfolio with information on secondary liens, comprising:
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receiving, using a processor, property data from the client loan portfolio; iteratively monitoring, using the processor, at least one database for secondary liens relatable to the property data, the iteratively monitoring iterated at a monitoring frequency based on a parameter selected from a group consisting of a first-time home buyer status, a credit card debt history, a secondary lien history, a financial indicator, and combinations thereof; and updating, using the processor, the property data from the client loan portfolio if a previously undetected secondary lien relatable to the property data is detected. - View Dependent Claims (22)
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23. A computer-based method of updating a client loan portfolio with information on secondary liens, comprising:
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receiving, using a processor, property data from the client loan portfolio; iteratively monitoring, using the processor, at least one database for secondary liens relatable to the property data; and updating, using the processor, the property data from the client loan portfolio if a previously undetected secondary lien relatable to the property data is detected, the updating the property data including; computing an automated valuation model (AVM) score, computing a combined loan-to-value (CLTV) score based on the previously undetected secondary lien and the AVM score, storing the previously undetected secondary lien, the AVM score, and the CLTV score to the property data from the client loan portfolio, and generating a secondary lien report including the CLTV score.
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24. A computer-based method of updating a client loan portfolio with information on secondary liens, comprising:
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receiving, using a processor, property data from the client loan portfolio; extracting, using the processor, property address data and owner identity data from the property data from the client loan portfolio; iteratively monitoring, using the processor, at least one database for secondary liens relatable to the property address data or the owner identity data; and updating, using the processor, the property data from the client loan portfolio if a previously undetected secondary lien relatable to the property data is detected. - View Dependent Claims (25)
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Specification