Mortgage loan data collection method and apparatus for a financial planning originator and/or financial institution originator of a mortgage loan
First Claim
Patent Images
1. A method, comprising the steps of:
- a loan originator independently providing services necessary for the origination of a mortgage loan and not duplicative of services provided by a loan broker by operating a loan originator computer associated with the loan originator as a member of a financial institution, further comprising the steps of;
collecting by the loan originator operating the loan originator computer loan data for a loan application in coordination with a loan broker distinct from the loan originator, for a loan customer distinct from the loan originator applying for a loan, further comprising the steps of;
collecting pre-stored customer data regarding the loan customer into a loan originator computer;
collecting by the loan originator new customer data different from the pre-stored customer data into the loan originator computer;
creating a loan application by combining in the loan originator computer the pre-stored customer data, the new customer data, and information about the loan; and
transferring the loan application to the loan broker from the loan originator computer; and
automatically verifying the services provided by the loan originator comply with the guidelines of federal and state law;
wherein the financial institution collection comprises the members;
a bank, a savings and loan, a thrift, and a credit union.
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Accused Products
Abstract
The present invention includes a method and apparatus for collecting information for a mortgage loan originated by a loan originator for a loan customer in coordination with a loan broker. The loan originator is not the loan broker. The loan originator provides services necessary for the origination of the mortgage loan and not duplicative of services provided by the loan broker. In certain embodiments, the loan originator is at least one of the following: CPA, Financial Planner, Broker/Dealer, Stock Broker, Insurance Broker/Agent, Attorney or other financial professionals. In other embodiments, the loan originator is one of the following: a Bank, Savings and Loan, Thrift, or Credit Union.
27 Citations
19 Claims
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1. A method, comprising the steps of:
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a loan originator independently providing services necessary for the origination of a mortgage loan and not duplicative of services provided by a loan broker by operating a loan originator computer associated with the loan originator as a member of a financial institution, further comprising the steps of; collecting by the loan originator operating the loan originator computer loan data for a loan application in coordination with a loan broker distinct from the loan originator, for a loan customer distinct from the loan originator applying for a loan, further comprising the steps of; collecting pre-stored customer data regarding the loan customer into a loan originator computer; collecting by the loan originator new customer data different from the pre-stored customer data into the loan originator computer; creating a loan application by combining in the loan originator computer the pre-stored customer data, the new customer data, and information about the loan; and transferring the loan application to the loan broker from the loan originator computer; and automatically verifying the services provided by the loan originator comply with the guidelines of federal and state law; wherein the financial institution collection comprises the members;
a bank, a savings and loan, a thrift, and a credit union. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18)
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19. A method, comprising the steps of:
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a loan originator independently providing services necessary for the origination of a mortgage loan and not duplicative of services provided by a loan broker by operating a loan originator computer associated with the loan originator is a member of a financial institution, further comprising the steps of; collecting by the loan originator operating the loan originator computer loan data for a loan application in coordination with a loan broker distinct from the loan originator, for a loan customer distinct from the loan originator applying for a loan, further comprising the steps of; collecting pre-stored customer data regarding the loan customer into a loan originator computer; collecting by the loan originator new customer data different from the pre-stored customer data into the loan originator computer; creating a loan application by combining the pre-stored customer data, the new customer data, and information about the loan; and wherein the method further comprising the step of; automatically verifying the services provided by the loan originator comply with the guidelines of federal and state law, comprising the step of;
providing the loan originator with a stacking order checklist for the loan customer;wherein the step of the loan originator further comprising the steps of; the loan originator collecting from the loan customer applicable documentation; the loan originator printing a form collection comprising at least two forms and printing at least two pamphlets; the loan originator presents the form collection and printed pamphlets to the loan customer; the loan originator explains the form collection and printed pamphlets to the loan customer; the loan originator receives the form collection members signed by the loan customer; and transferring the loan application to the loan broker, further comprising the step of; the loan originator packaging the collected applicable documentation, and form collection members signed by the loan customer in a pre-determined stacking order to create the loan application; wherein the financial institution is at least one of a bank, a savings and loan, a thrift, and a credit union; and wherein the applicable documentation includes a W-2 form, a paystub, a bank statement, a tax return, a bankruptcy paper, and retirement information.
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Specification