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Method and system for loan closing

  • US 8,024,261 B2
  • Filed: 05/22/2007
  • Issued: 09/20/2011
  • Est. Priority Date: 09/12/2003
  • Status: Expired due to Fees
First Claim
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1. A method for electronically facilitating a loan closing transaction, the method implemented on a suitably programmed computer comprising a processor, a data repository, and a user interface, the method comprising:

  • receiving loan information for the loan closing transaction from at least one preliminary loan service;

    automatically ordering sub-transactions related to the loan closing transaction;

    generating an interactive loan closing form including the loan information for the loan closing transaction;

    storing the interactive loan closing form;

    updating the interactive loan closing form; and

    generating, via the processor, at least one loan closing document based upon the interactive loan closing form, wherein updating the interactive loan closing form includes;

    receiving a change of at least one entry in the interactive loan closing form;

    receiving authorization by a designated party for the change, wherein the designated party is customized based upon the loan closing transaction;

    entering the change in the interactive loan closing form;

    storing the interactive loan closing form; and

    presenting the interactive loan closing form with the change via the user interface.

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