System and method for providing services to a client

• US 8,078,525 B2
• Filed: 04/26/2007
• Issued: 12/13/2011
• Est. Priority Date: 04/26/2006
• Status: Active Grant

• Current Assignee: VINtek, Inc. (Cox Enterprises Incorporated)
• Original Assignee: VINtek, Inc. (Cox Enterprises Incorporated)
• Inventors: Highbloom, Lawrence
• Primary Examiner(s): Dixon, Thomas
• Assistant Examiner(s): Vizvary, Gerald C
• Application Number:
  US11/796,098
• Publication Number:
  US 20070282738A1
• Time in Patent Office: 1,692 Days
• Field of Search: 705/35, 705/38, 705/39
• US Class Current: 705/38
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof

Abstract

A method is provided for a service provider to automate service tasks for a client where the client would otherwise need to perform the tasks. The method can be implemented using computers and the internet, where a web site is provided that the client can access for information and/or calculations. Where the client is a lender making a loan to a borrower, who wishes to purchase real or personal property from a seller, the client provides customer information to the service provider who in turn provides documents for execution by the borrower and the seller. After auditing the information received, the service provider advises the client whether to make the loan. If the loan is made, the client disburses proceeds to the seller and/or to a pre-existing lienholder and an amount to the service provider, who sends information to a governmental entity for recording a lien on the property.

Claims

1. A method for serving a lender concerning a loan transaction between the lender and a borrower, wherein the borrower is purchasing a motor vehicle from a seller, the method comprising:

providing a computerized calculation system that the lender can access to make an automatic calculation that determines a loan amount, wherein the calculation comprises calculation of an expense for a purchase of a motor vehicle, wherein the expense comprises at least one of sales tax, cost of registration, cost of license plates and cost of public recordation of a lien on title and the expense is included in the loan amount;

prompting the lender to enter information into the computerized calculation system concerning the transaction;

preparing documents for the borrower;

providing the documents to the borrower;

receiving the documents back from the borrower;

advising the client concerning the transaction, and

submitting required documents to a department of motor vehicles or similar agency, wherein the required documents are for at least one of paying a tax, applying for a certificate of title for ownership of the motor vehicle, obtaining license plates where required or publicly recording a lien for the loan amount.

2. The method of claim 1, wherein the documents provided to the borrower are electronic versions of paper documents, and wherein the documents are provided via an internet web site.

18. The method of claim 1, further comprising providing disbursement instructions to the lender.

19. The method of claim 18, further comprising determining whether there is a pre-existing lien on the vehicle.

20. The method of claim 19, wherein there is a pre-existing lien amount on the vehicle, and further comprising determining whether the loan amount exceeds the lien amount.

21. The method of claim 20, further comprising instructing the lender to pay the pre-existing lien amount to a lienholder who holds the lien on the vehicle.

3. A method for serving a lender, loaning money to a borrower, wherein the borrower is purchasing something from a seller, the method comprising:

providing an internet, web-based calculation module for automatically determining an expense in addition to the sales price of an item being sold and associated with the purchase to enable the lender to secure an accurate lien including the sales price and the calculated expense, registration and/or recordation for the item being sold, wherein the lender can access and use the calculation module;

prompting the lender to enter information including geographic information into the calculation module concerning the borrower'"'"'s purchase;

calculating the expense for the purchase using at least some of the information entered by the lender and providing the result to the lender;

receiving a communication from the lender that the lender and the borrower have reached an agreement; and

advising the lender concerning the agreement.

4. The method of claim 3, further comprising preparing and providing documents for the borrower.

5. The method of claim 4, further comprising preparing and providing documents for the seller.

6. The method of claim 3, further comprising preparing and sending documents to a governmental entity concerning the agreement between the lender and the borrower.

7. A method for providing service to a lender lending loan money to a borrower, wherein the borrower is purchasing a motor vehicle from a seller, the method comprising:

providing a computerized calculation module for automatically determining an expense for the purchase, wherein the expense includes a tax or other cost for the purchase or registration of the motor vehicle, and wherein the lender can access and use the calculation module;

prompting the lender to enter information including geographic information into the calculation module concerning the vehicle;

calculating the expense for the purchase and providing the result to the lender;

providing a tracking software module, wherein the lender can send communications to and receive communications from the tracking software module;

receiving an agreement communication from the lender that the lender and the borrower have reached an agreement on a loan amount and terms for a loan, wherein the loan amount includes the expense;

noting the agreement communication in the tracking software module;

preparing borrower documents;

providing the borrower documents to the borrower;

preparing seller documents;

providing the seller documents to the seller;

receiving the borrower documents from the borrower, wherein the borrower documents have been executed by the borrower;

receiving the seller documents from the seller, wherein the seller documents have been executed by the seller;

auditing the executed borrower and seller documents for errors or omissions; and

advising the lender as to whether to fund the loan to the borrower.

8. The method of claim 7, further comprising providing disbursement instructions to the lender.

9. The method of claim 8, further comprising determining whether there is a pre-existing lien on the vehicle.

10. The method of claim 9, wherein there is a pre-existing lien amount on the vehicle, and further comprising determining whether the loan amount exceeds the lien amount.

11. The method of claim 10, further comprising instructing the lender to pay the pre-existing lien amount to a lienholder who holds the lien on the vehicle.

12. The method of claim 11, wherein the loan amount exceeds the pre-existing lien amount, and further comprising instructing the lender to disburse funds to the seller in an amount equal to the amount that the loan amount exceeds the pre-existing lien amount.

13. The method of claim 7, further comprising preparing DMV documents.

14. The method of claim 13, further comprising sending the DMV documents to a governmental entity that regulates the purchase of the vehicle.

15. The method of claim 13, further comprising submitting the DMV documents to a governmental entity that regulates the purchase of the vehicle, wherein the documents are submitted electronically.

22. The method of claim 7, wherein the expense comprises at least one of sales tax, cost of registration, cost of license plates and cost of public recordation of a lien on title.

16. A system for providing services to a client, wherein the client has a customer and the customer has a transaction with the client, comprising:

a first computerized module for providing information to the client, wherein the first computerized module includes a calculation module for automatically calculating an expense for a transaction between the client and the customer, wherein the expense varies with the transaction and its geographic location;

a second computerized module for providing information to the customer, wherein the second computerized module is integrated with the first computerized module;

a document management module for managing documents and/or printing forms, wherein the document management module is integrated with the second computerized module;

a courier integration module adapted for integrating computerized data in a courier service entity'"'"'s system with the document management module;

a tracking module for tracking work-in-process, wherein the tracking module is integrated with the courier integration module and/or the document management module; and

an automated data exchange module adapted for receiving data from a computerized system operated by the client and for exchanging information with the tracking module.

17. A method for providing services to a client, wherein the client has a customer, the client is contemplating a transaction with the customer, and the client and the customer have a need to provide information to a third party concerning the transaction, the method comprising:

providing information to the client via a computerized system and/or through a network of computers, wherein the client requests the information through the computer system and/or through the network of computers, wherein the information includes automatically calculated information for an expense for the purchase which expense varies with the transaction and its geographic location;

receiving client-customer information from the client concerning a proposed transaction between the client and the customer;

providing service provider-customer information to the customer;

receiving customer-service provider information from the customer concerning the service provider-customer information;

advising the client to implement the transaction between the client and the customer; and

providing service provider-third party information to the third party concerning the transaction between the client and the customer.