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System and method for management of delegated real estate project reviews

  • US 7,801,809 B1
  • Filed: 06/24/2005
  • Issued: 09/21/2010
  • Est. Priority Date: 06/24/2005
  • Status: Active Grant
First Claim
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1. A data processing system configured to provide a first review output indicating results of a review of a real estate project and a second review output indicating results of a review of a mortgage loan application, the real estate project being one of a plurality of real estate projects, each of the plurality of real estate projects comprising a plurality of individual units, the mortgage loan application being an application for a mortgage loan secured by one of the individual units of the real estate project, comprising:

  • a database, the database being configured to store information regarding the plurality of real estate projects, the plurality of real estate projects including projects which are under development and projects which are completed;

    lender user interface logic implemented in instructions stored in computer-readable storage media and a machine that executes the instructions, the lender user interface logic being configured to provide a lender user interface accessible to lenders, the lender user interface logic providing the lenders with access to the database to permit the lenders to add at least one of additional and updated information in the database concerning the plurality of real estate projects, wherein, for each of the plurality of real estate projects, the lender user interface logic generates screen displays configured to receive information concerning the real estate project as a whole and information concerning any of the plurality of individual units within the real estate project;

    investor user interface logic implemented in the instructions stored in the computer-readable storage media and the machine that executes the instructions, the investor user interface logic being configured to provide an investor user interface accessible to an investor, the investor having relationships with the lenders in which the investor provides funding for mortgage loans secured by the plurality of properties that are part of the plurality of real estate projects in exchange for an interest in the mortgage loans, and the investor interface logic being configured to permit the investor to track the at least one of the additional and updated information added in the database by the lenders or accept the real estate project;

    report generation logic implemented in the instructions stored in the computer-readable storage media and the machine that executes the instructions, the report generation logic being configured to provide the first review output indicating the results of the review of the real estate project, the first review output including an indication whether the real estate project has been accepted by the investor; and

    an automated underwriting engine configured to generate an underwriting recommendation, the underwriting recommendation being the second review output indicating the results of the review of the mortgage loan application based on loan information contained in the mortgage loan application for the mortgage loan, the loan information including information concerning the individual unit, the underwriting recommendation being generated based on the mortgage loan being secured by the individual unit.

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