Automated loan processing system and method
Number of patents in Portfolio can not be more than 2000
United States of America Patent
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Jun 30, 2009
Grant Date -
Apr 4, 2002
app pub date -
Oct 2, 2001
filing date -
Oct 2, 2000
priority date (Note) -
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status (Latency Note)
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Abstract
A workflow engine for rendering instant credit decisions includes a workflow designer, a web site interface, a database, checklists created by the workflow designer and associated with at least one loan offering, and a messaging system for brokering messages between a consumer and a lender. The workflow engine accepts web-based loan applications, processes the loan applications programmatically, and renders a loan decision within seconds. The workflow engine uses checklists to evaluate loan applications. Each checklist is associated with one loan offering and one lender. Multiple lenders offer multiple loan offerings through the system to compete for consumer/borrowers. The system evaluates loan applications and renders a programmatic loan decision without human intervention, subject to verification of the application data.
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