Systems and methods for making disbursements of real estate settlement funds

Number of patents in Portfolio can not be more than 2000

United States of America Patent

APP PUB NO 20030093371A1
SERIAL NO

09683048

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ATTORNEY / AGENT: (SPONSORED)

Importance

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Abstract

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Systems and techniques are described for the payment of a recipient and a sub-recipient. One approach includes using a server computer to receive and store from a recipient an amount of an expected total disbursement, an amount of a sub-recipient portion of the expected total disbursement, and an authorization to pay the sub-recipient portion directly to the sub-recipient. This approach may further include receiving from a sender a gross disbursement for payment to the recipient and determining whether the amount of the gross disbursement received from the sender matches the amount of the total disbursement expected by the recipient. If these two amounts match, a payment server is instructed to make a direct payment to the recipient of the expected total disbursement, less the amount of the sub-recipient portion. The payment server is also instructed to make a direct payment to the sub-recipient of the sub-recipient portion.

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Patent Owner(s)

Patent OwnerAddress
GE MORTGAGE HOLDINGS LLC6601 SIX FORKS ROAD RALEIGH NC 27615

International Classification(s)

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Inventor(s)

Inventor Name Address # of filed Patents Total Citations
Wilson, Linda Berlin, NJ 5 13

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