Loan underwriting system and method
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United States of America Patent
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May 1, 2007
Grant Date -
Dec 2, 2004
app pub date -
Jun 2, 2003
filing date -
Jun 2, 2003
priority date (Note) -
In Force
status (Latency Note)
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Abstract
An automated loan underwriting system and method automates the logic implemented by a loan underwriter, saving the loan originator time and money. Each lending institution can set up its own decisioning criteria, enabling customers to customize the process in which a proper evaluation, owners and encumbrance report, or title product is selected for a loan application within a given set of characteristics. The system and method allow for the automatic upgrading to another product without involvement of the loan processor, helping to reduce time delays in the loan origination process. The speed and automation allow for more underwriting checks to be applied against each loan.
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