Escrow accommodation system

• US 8,140,430 B2
• Filed: 07/27/2001
• Issued: 03/20/2012
• Est. Priority Date: 07/27/2001
• Status: Active Grant

• Current Assignee: Ruben G. Duran
• Original Assignee: Ruben G. Duran
• Inventors: Duran, Ruben G.
• Primary Examiner(s): Dass, Harish T.
• Application Number:
  US09/916,927
• Publication Number:
  US 20030023548A1
• Time in Patent Office: 3,889 Days
• Field of Search: 705/75, 705/39, 705/8, 705/1, 705/26, 705/35, 380/201
• US Class Current: 705/39
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0641 Shopping interfaces
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes

Abstract

An escrow accommodation system adapted for deployment in the offices of brokers, mortgage companies, lending institutions and title insurers to facilitate remote video-conferencing of potential buyers and sellers with independent escrow agents. The system includes a first client subsystem disposed in a first office. The first client subsystem includes a microprocessor, software running on the microprocessor for facilitating an escrow arrangement, a camera coupled to the microprocessor, and a display coupled to the computer. A second client subsystem is provided in a second office. The second client subsystem includes a microprocessor, software running on the microprocessor for facilitating an escrow arrangement, a camera coupled to the microprocessor, and a display coupled to the microprocessor. The first and second client subsystems are connected via a network. In the illustrative embodiment, the software includes code for receiving customer escrow data and displaying a list of escrow companies. In various alternative embodiments, the list is customized based on user data and/or broker data. As taught herein, the software includes code for establishing a videoconference between the first client and the second client via the network. The network may be either a public network such as the Internet or a private or virtually private network. The software further includes code for facilitating an escrow opening meeting online. Code is also included for running customized applications based on input from an escrow agent, a customer, a broker or other third party.

Claims

1. An escrow accommodation system comprising:

a server configured to facilitate an escrow transaction between;

a first escrow client subsystem disposed in a first location, said first escrow client subsystem including;

first software configured to facilitate the escrow arrangement, the first software comprising code configured to run customized escrow applications customized for the first location based on input received from at least one of an escrow agent, a customer, a broker, and another third party;

a first communication device operable to communicate escrow information based on instructions from said first software, said first communication device comprising a first camera configured to be operated with the first software to facilitate an online videoconference meeting regarding an existing escrow, and

a first display; and

a second escrow client subsystem disposed in a second location, said second escrow client subsystem including;

second software configured to facilitate the escrow arrangement,

a second communication device operable to communicate escrow information based on instructions from said second software, said second communication device comprising a second camera configured to be operated with the second software to facilitate the online videoconference meeting regarding an existing escrow, and

a second display;

wherein the server interfaces with a network thereby connecting said first and second client subsystems, and wherein the escrow transaction comprises a conditional delivery of items from a first party to a third party until certain conditions are satisfied followed by delivery of the items from the third party to a second party;

and further wherein the first escrow client subsystem is configured to display a list of available escrow companies for performing escrow services and fees associated with available escrow companies, the list of available escrow companies customizable based on at least one of customer data and broker data, and the first escrow client subsystem is further configured to facilitate an escrow opening meeting online between a customer and an escrow company selected from the list of available escrow companies.

2. The escrow accommodation system of claim 1 wherein said first software includes code for receiving customer escrow data.

3. The escrow accommodation system of claim 1 wherein said first software includes code for displaying a list of escrow companies.

4. The escrow accommodation system of claim 3 wherein said list is customized based on user data.

5. The escrow accommodation system of claim 3 wherein said list is customized based on broker data.

6. The escrow accommodation system of claim 1 wherein said first software and said second software includes code for establishing a video-conference between said first client and said second client via said network.

7. The escrow accommodation system of claim 1 wherein said first software and said second software includes code for facilitating an escrow opening meeting online.

8. The escrow accommodation system of claim 7 wherein said first software includes code for running customized applications.

9. The escrow accommodation system of claim 8 wherein said applications are customized based on the parameters provided by an escrow agent, a customer, and/or a third party.

10. The escrow accommodation system of claim 9 wherein said third party is a real estate broker.

11. The escrow accommodation system of claim 1 wherein said first software includes code for retrieving an existing escrow account.

12. The escrow accommodation system of claim 1 wherein said first display is a flat-panel display.

13. The escrow accommodation system of claim 1 wherein said network is the Internet.

14. The escrow accommodation system of claim 1 wherein said network is a private network.

15. The escrow accommodation system of claim 1 wherein said first office is an escrow office.

16. The escrow accommodation system of claim 15, wherein the escrow office is an independent escrow office.

17. The escrow accommodation system of claim 1 including further first client subsystems disposed in respective independent escrow offices.

18. The escrow accommodation system of claim 1 wherein said second location is a broker'"'"'s office.

19. The escrow accommodation system of claim 18 including further second client subsystems disposed in respective brokers offices.

20. The escrow accommodation system of claim 16 wherein said second location is a title insurance office.

21. The escrow accommodation system of claim 1 wherein said communication device is a camera.

22. An escrow accommodation method implemented using a computing device, the escrow accommodation method comprising:

providing an escrow service between a first escrow service provider at a first location and a second party at a second location, the escrow service operating using the computing device, wherein the computing device comprises code for running customized escrow applications customized for the first escrow service provider based on input received from at least one of an escrow agent, a customer, a broker, and another third party; and

employing a videoconferencing system between the first location and the second location for purposes of facilitating the escrow service, wherein the escrow service at least partially comprises conducting an online videoconference meeting regarding an existing escrow between the first escrow service provider and the second party, and the escrow service at least partially comprises a conditional delivery of items from a first party to a third party until certain conditions are satisfied followed by delivery of the items from the third party to the second party;

and further wherein the computing device is configured to display a list of available escrow companies for performing escrow services and fees associated with available escrow companies, the list of available escrow companies customizable based on at least one of customer data and broker data, and the computing device is further configured to facilitate an escrow opening meeting online between a customer and an escrow company selected from the list of available escrow companies.

23. An escrow accommodation system comprising:

a server configured to facilitate an escrow transaction between;

a first escrow client subsystem disposed in a first location, said first escrow client subsystem including;

first software configured to facilitate the escrow arrangement, said first software comprising code configured to run customized escrow applications customized for the first location based on input received from at least one of an escrow agent, a customer, a broker, and another third party,

a first video device operable to receive and communicate first video escrow information via the server based on instructions from said first software, said first video device comprising a first camera configured to be operated with the first software to facilitate an online videoconference meeting regarding an existing escrow, and

a second escrow client subsystem disposed in a second location, said second escrow client subsystem including;

second software configured to facilitate the escrow arrangement,

a second video device operable to receive and communicate second video escrow information via the server based on instructions from said second software, said second video device comprising a second camera configured to be operated with the second software to facilitate the online videoconference meeting regarding the existing escrow,

wherein the server interfaces with a network thereby connecting said first and second client subsystems;

and further wherein the first escrow client subsystem is configured to display a list of available escrow companies for performing escrow services and fees associated with available escrow companies, the list of available escrow companies customizable based on at least one of customer data and broker data, and the first escrow client subsystem is further configured to facilitate an escrow opening meeting online between a customer and an escrow company selected from the list of available escrow companies.