Credit application status monitor

• US 8,571,971 B1
• Filed: 04/19/2002
• Issued: 10/29/2013
• Est. Priority Date: 04/19/2002
• Status: Active Grant

• Current Assignee: Wells Fargo Bank NA (Wells Fargo & Company)
• Original Assignee: Wells Fargo Bank NA (Wells Fargo & Company)
• Inventors: Brown, David H., Stadler, Shelley I., Wratislaw, Donald E., Wyche, Joy M.
• Primary Examiner(s): Norman, Samica L
• Application Number:
  US10/126,013
• Time in Patent Office: 4,211 Days
• Field of Search: 705/35, 705/38
• US Class Current: 705/38
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof

Abstract

A management system and method for a credit decision-making process. The system and method provide access to an automatically generated and updated status report providing information about conditions required for final credit approval. The status report is available via computer systems used by parties to the credit decision-making process, such as the potential borrower, the creditor, and a business partner working with the potential borrower and creditor. Notifications of changes to the status report and/or updated status reports are automatically provided to the parties via the computer systems. In some embodiments, a request for the current status report can be requested in response to the notification.

The system and method also include the capability to access dates scheduled for fulfilling the conditions for final credit approval and to allow requests for changes to the scheduled dates. Notifications of requests for date changes can be automatically provided to all parties needing the information.

Claims

1. A computer system comprising:

a processor,

a computer readable medium for storing software modules executable by the processor, the software modules comprising;

a first module for generating a first status report comprising status information for a first condition that is necessary to be met before an application for financial credit can be approved;

an obtaining module for obtaining information indicating that a status of the first condition has changed;

a second generating module for automatically generating a second status report from contents of the first status report, wherein the second status report indicates that the status of the first condition has changed;

a sending module for automatically sending a first message to a first computer system in response to the generation of the second status report;

a receiving module for receiving a reply message from the first computer system;

a providing module for automatically providing the second status report to the first computer system in response to the receiving module receiving the reply message from the first computer system;

a third generating module for automatically generating a third status report using contents of the second status report, wherein the third status report comprises a scheduled date;

a second providing module for automatically providing the third status report to a plurality of computer systems, including the first computer system and a second computer system;

a second receiving module for receiving a request to change the date from the first computer system; and

a third providing module for automatically providing the request to the plurality of computer systems other than the first computer system.

2. The system of claim 1 further wherein the sending module automatically sends a second message to the second computer system in response to the generation of the second status report;

and

wherein the receiving module is configured to receive a reply message from the second computer system;

wherein the providing module automatically provides the second status report to the second computer system in response to the receiving the second message.

3. The system of claim 1 wherein

the providing module automatically displays the second status report on a display device associated with the first computer system.

4. A computer system comprising:

a processor; and

a computer readable memory, the computer readable memory comprising instructions executable by the processor, the instructions comprising;

instructions for generating a first, status report comprising status information for a first condition that is necessary to be met before an application for financial credit can be approved;

instructions for obtaining information indicating that a status of the first condition has changed;

instructions for automatically generating a second status report based on contents from the first status report, wherein the second status report indicates that the status of the first condition has changed;

instructions for automatically sending a first message to a first computer system in response to generating the second status report; and

instructions for receiving a reply message from the first computer system in response to sending the first message;

instructions for automatically providing the second status report to the first computer systems in response to the receiving the reply message;

instructions for automatically generating a third status report using contents of the second status report, wherein the third status report comprises a scheduled date;

instructions for automatically providing the third status report to the plurality computer systems, including the first computer system and a second computer system;

instructions for receiving a request to change the date from the first computer system;

instructions for automatically providing the request to the plurality of computer systems other than the first computer system.

5. The computer system of claim 4 wherein the instructions further comprise:

instructions for automatically sending a second message to the second computer system in response to the generating the second status report; and

instructions for receiving a reply message from the second computer system in response to sending the second message;

wherein the second status report is automatically provided to the second computer system in response to the receiving the reply message from the second computer system.

6. The computer system of claim 4 further comprising instructions for automatically displaying the second status report on a display device associated with the first computer system.

7. A computer system comprising:

a first status report generated comprising status information for a first condition that is necessary to be met before an application for financial credit can be approved;

information obtained indicating that a status of the first condition has changed;

a second status report automatically generated from contents of the first status report, wherein the second status report indicates that the status of the first condition has changed;

a first message automatically sent to a first computer system in response to the second status report generated; and

a reply message received from the first computer system in response to the first message sent;

the second status report automatically provided to the first computer system in response to the reply message received;

a third status report automatically generated using contents of the second status report, wherein the third status report comprises a scheduled date;

the third status report automatically provided to a plurality computer systems, including the first computer system and a second computer system;

a request receieved to change the date from the first computer system; and

the request automatically provided to the plurality of computer systems other than the first computer system.

8. The system of claim 7 wherein:

a message is automatically sent to the second computer system in response to the generating the second status report; and

a reply message is received from the second computer system;

wherein

the second status report is automatically provided to the second computer system in response to the reply message received from the second computer system.

9. The system of claim 7 wherein

the second status report is automatically displayed on a display device associated with the first computer system.

10. An apparatus comprising:

a first generating circuit for generating a first status report comprising status information for a first condition that is necessary to be met before an application for financial credit can be approved;

an obtaining circuit for obtaining information indicating that a status of the first condition has changed;

a second generating circuit for automatically generating a second status report from the first status report, wherein the second status report indicates that the status of the first condition has changed;

a sending circuit for automatically sending a first message to a first computer system in response to the generating the second status report;

a receiving circuit for receiving a reply message from the first computer system in response to sending the first message;

a providing circuit for automatically providing the second status report to the first computer system in response to the receiving the reply message;

a third generating circuit for automatically generating a third status report using contents of the second status report, wherein the third status report comprises a scheduled date;

a second providing circuit for automatically providing the third status report to a plurality of computer systems, including the first computer system and a second computer system;

a second receiving circuit for receiving a request to change the date from the first computer system; and

a third providing circuit for automatically providing the request to the plurality of computer systems other than the first computer system.

11. The apparatus of claim 10 further comprising:

a second sending circuit for automatically sending a second message to the second computer system in response to the generating the second status report; and

a third receiving circuit for receiving a reply message from the second computer system in response to sending the second message;

wherein

the providing circuit automatically provides the second status report to the second computer system in response to the receiving the reply message from the second computer system.

12. The apparatus of claim 10 wherein

the second providing circuit automatically displays the second status report on a display device associated with the first computer system.