Quality control for loan processing
First Claim
1. A method for auditing a lender'"'"'s loan process, which comprises the steps of:
- selecting a loan applicant;
selecting a source channel for receiving a loan application;
selecting a test scenario for the selected loan applicant;
generating a fabricated credit bureau report for the selected loan applicant;
bypassing an actual credit bureau report and returning the fabricated credit bureau report; and
generating a loan application for an applicant based upon the test scenario and fabricated credit bureau report.
1 Assignment
0 Petitions
Accused Products
Abstract
A method of quality control for loan processing employing a quality assurance shopper. The shopper is flagged in the loan processing system so that the shopper advances through the loan application and decision process without adversely affecting the individual'"'"'s credit history or real property. A credit bureau is fabricated for the quality assurance shopper in the loan processing system based on a pre-determined test scenario and an existing customer'"'"'s credit information. To facilitate the loan decision process, the shopper'"'"'s real estate information is requested from a service company. The service company cooperates with the lender by processing quality assurance shopper flagged orders separately from other received orders. Elements of the quality assurance shopper'"'"'s information are used to look up recently filled real estate information requests. Fabricated property information for the quality assurance shopper is returned to the lender. The loan is funded and the shopper evaluates the lender'"'"'s business practices, customer service, and regulatory compliance.
123 Citations
33 Claims
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1. A method for auditing a lender'"'"'s loan process, which comprises the steps of:
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selecting a loan applicant;
selecting a source channel for receiving a loan application;
selecting a test scenario for the selected loan applicant;
generating a fabricated credit bureau report for the selected loan applicant;
bypassing an actual credit bureau report and returning the fabricated credit bureau report; and
generating a loan application for an applicant based upon the test scenario and fabricated credit bureau report. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17)
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18. A method for auditing a lender'"'"'s loan process, which comprises the steps of:
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selecting a loan applicant;
selecting a source channel for receiving a loan application;
selecting a test scenario for the selected loan applicant;
generating a loan application for the selected loan applicant based on the test scenario;
ordering the selected loan applicant'"'"'s real estate information from a service vendor; and
receiving real estate information for the selected loan applicant responsive to the order. - View Dependent Claims (19, 20, 21, 22, 23, 24, 25, 26)
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27. A computer-based system for enabling a quality assurance shopper to evaluate a lender'"'"'s loan process comprising;
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means for displaying customer information;
first input means for fabricating a quality assurance shopper'"'"'s credit bureau report;
second input means for entering loan application information from customers and quality assurance shoppers;
means for storing customer and quality assurance shoppers'"'"' credit bureau reports and loan application information;
means for identifying a quality assurance shopper for special processing relative to one or more service companies; and
means for transmitting information requests to the service companies for fulfillment and for receiving customer information responsive to said requests. - View Dependent Claims (28, 29)
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30. A computer system for loan processing which enables a quality assurance shopper to evaluate a lender'"'"'s loan process comprising:
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a data storage area comprising;
a customer database; and
a credit bureau report database;
a digital computer connected to the data storage area and comprising a first user interface for generating, entering, editing, saving, and flagging data for the quality assurance shopper; and
a second digital computer in communication with the data storage area and comprising;
a second user interface for entering loan application data for the quality assurance shopper and requesting information relative to the quality assurance shopper from one or more service companies; and
a communications link connecting the second digital computer to said one or more service companies. - View Dependent Claims (31, 32, 33)
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Specification