Method and system for loan origination and underwriting
First Claim
1. A method for facilitating approval of a real estate investment in a system having a plurality of remote members of a business entity, each of said plurality of remote members entering data associated with said real estate investment, the method comprising:
- periodically receiving and storing loan origination data from said plurality of remote members via a plurality of data input screens, said data including financial and physical data relating to said real estate investment;
comparing automatically the input loan origination data with first data input rules and if any of said data input rules are violated, then displaying an information screen including a text message corresponding to a respective violated rule;
comparing automatically the loan origination data with second pre-determined rules and, based on results of the comparison with said second pre-determined rules, dynamically determining a set of data input and dialog screens;
comparing automatically the loan origination data with third pre-determined rules and based on results of the comparison with said third pre-determined rules dynamically calculating at least one or more profitability values, said third pre-determined rules including at least one of a debt model and an equity financial model;
displaying at least one of said profitability values on said set of data input and dialog screens;
inputting and storing user comments from at least a second one of said plurality of remote users via at least one of said data input screens;
presenting said user comments, said stored loan origination data, and said at least one or more calculated values to at least one of said remote members for approval; and
generating at least one loan origination and underwriting report, said report including said stored loan origination data and said at least one or more profitability values.
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Accused Products
Abstract
A system and method for use by a business entity for loan origination and underwriting in connection with real estate investment using a computer implemented application having a plurality of data input and dialog screens requiring one-time entry of data. The method includes steps to be followed in any sequence by one or more users of the business entity for using the system. The method includes inputting and storing loan origination information via data input screens, the information including financial and physical information relating to a specific real estate investment. The input loan origination information is dynamically compared with pre-determined rules and a dialog screen is displayed on a near real-time basis if any of said rules are violated. The input data is dynamically compared with other rules for determining the ongoing sequence of data input and dialog screens. Comparison with other rules results in the calculation of calculated values and automatically generated dialog text, some of which is automatically populated in word processing documents, an automated loan request and a credit application. The system includes both manual and automatic input of market data quantitatively describing the real estate market associated with the property, as well as multimedia data describing the property and the region surrounding the property. A report representing all of the stored input and calculated values are automatically produced in both paper and electronic form suitable for loan origination and underwriting.
66 Citations
19 Claims
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1. A method for facilitating approval of a real estate investment in a system having a plurality of remote members of a business entity, each of said plurality of remote members entering data associated with said real estate investment, the method comprising:
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periodically receiving and storing loan origination data from said plurality of remote members via a plurality of data input screens, said data including financial and physical data relating to said real estate investment;
comparing automatically the input loan origination data with first data input rules and if any of said data input rules are violated, then displaying an information screen including a text message corresponding to a respective violated rule;
comparing automatically the loan origination data with second pre-determined rules and, based on results of the comparison with said second pre-determined rules, dynamically determining a set of data input and dialog screens;
comparing automatically the loan origination data with third pre-determined rules and based on results of the comparison with said third pre-determined rules dynamically calculating at least one or more profitability values, said third pre-determined rules including at least one of a debt model and an equity financial model;
displaying at least one of said profitability values on said set of data input and dialog screens;
inputting and storing user comments from at least a second one of said plurality of remote users via at least one of said data input screens;
presenting said user comments, said stored loan origination data, and said at least one or more calculated values to at least one of said remote members for approval; and
generating at least one loan origination and underwriting report, said report including said stored loan origination data and said at least one or more profitability values. - 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 facilitating approval of a real estate investment using a computer implemented application connected to a spreadsheet application, said computer implemented application having a plurality of data input and information screens accessible by a plurality of remote members of a business entity, each of said plurality of remote members entering data associated with said real estate investment, the method comprising:
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periodically receiving and storing loan origination data from at least one of said plurality of remote members via said data input screens, said data including financial and physical data relating to said real estate investment;
comparing automatically the input loan origination data with first data input rules and if any of said input rules are violated, then displaying an information screen including a text message corresponding to a respective violated rule;
comparing automatically the loan origination data with second pre-determined rules and based on results of the comparison with said second pre-determined rules dynamically determining a set of data input and dialog screens;
comparing automatically the input loan origination data with third pre-determined rules and based on results of the comparison with said third pre-determined rules dynamically calculating at least one of;
one or more profitability values, said third predetermined rules including at least one of a debt model and an equity financial model, at least one of said calculated values displayed on said set of data input screens;
auto-populating fields of input screens and information screens with at least one of previously entered data and calculated values;
automatically linking to a web site, selecting and copying a data portion from the web site based on a postal ZIP Code value;
inputting and storing market data, said market data describing the real estate market associated with the real estate investment;
presenting said loan origination data, said calculated values, and said market data to at least one of said members for approval; and
generating at least one loan origination and underwriting report including the stored loan origination data, the stored market data, and the profitability values.
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19. A system for facilitating approval of a real estate investment comprising:
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a computer implemented application connected to a spreadsheet application, said computer implemented application accessible by a plurality of members of a business entity and having a plurality of data input screens configured and arranged for input of member comments and financial data including loan origination data and physical data relating to a specific real estate investment, said computer application including information screens;
said computer application including first data rules, said computer application being configured and arranged for automatic comparison of the loan origination data periodically received from at least one of said plurality of members with said input rules for determining violation of said input rules;
said computer application including second pre-determined rules, said computer application being configured and arranged for automatic comparison of the loan origination data with said second pre-determined rules, a first result of said comparison being arranged to dynamically determine a set of data input and dialog screens;
said computer application including third pre-determined rules, said computer application being configured and arranged for automatic comparison of the loan origination data with said third pre-determined rules, a second result of said comparison being arranged to dynamically calculate at least one of one or more profitability values, said third pre-determined rules including at least one of a debt model and an equity financial model;
said computer application causing at least one of said profitability values to be displayed on said set of data input and dialog screens;
said computer application being configured and arranged to auto-populate fields of said input screens and information screens with at least one of previously entered data and profitability values;
said computer application being configured and arranged to automatically link to a web site, select and copy a data portion from the web site based on a postal ZIP Code value;
said computer application being configured and arranged to receive and store market data, said market data describing the real estate market associated with the real estate investment;
said computer application being configured and arranged to present said loan origination data, said profitability values, and said market data to at least one of said members for approval; and
said computer application being configured and arranged to generate at least one loan origination and underwriting report including the stored loan origination data, the stored market data, and the profitability values.
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Specification