System and method for acquiring a mortgage loan

Data processing: financial – business practice – management – or co – Automated electrical financial or business practice or... – Finance

Reexamination Certificate

Rate now

  [ 0.00 ] – not rated yet Voters 0   Comments 0

Details

C705S035000

Reexamination Certificate

active

08065225

ABSTRACT:
A computer-implemented method for processing an application for a mortgage loan, such that the mortgage loan is configured to include a set of financial lending requirements and further include certain financial lending risks associated with financing the mortgage loan. The steps of the method include receiving the mortgage loan application, processing the mortgage loan application through an electronic database, applying the set of financial lending requirements to the mortgage loan application, generating a listing of at least one eligible lender or loan product based on the application of the financial lending requirements to the mortgage loan application, and submitting the mortgage loan application to the eligible lender, the mortgage loan being configured such that the financial lending risks are configured to be absorbed by a secondary mortgage market investor.

REFERENCES:
patent: 5995947 (1999-11-01), Fraser et al.
patent: 6904412 (2005-06-01), Broadbent et al.
patent: 6999942 (2006-02-01), Kemper et al.
patent: 7089503 (2006-08-01), Bloomquist et al.
patent: 7366694 (2008-04-01), Lazerson
patent: 7620598 (2009-11-01), McDonald et al.
patent: 7653592 (2010-01-01), Flaxman et al.
patent: 2001/0005829 (2001-06-01), Raveis, Jr.
patent: 2001/0029482 (2001-10-01), Tealdi et al.
patent: 2001/0047326 (2001-11-01), Broadbent et al.
patent: 2002/0069159 (2002-06-01), Talbot et al.
patent: 2002/0103669 (2002-08-01), Sullivan et al.
patent: 2003/0036994 (2003-02-01), Witzig et al.
patent: 2003/0050884 (2003-03-01), Barnett
patent: 2003/0135447 (2003-07-01), Blanz et al.
patent: 2003/0135448 (2003-07-01), Aguias et al.
patent: 2003/0144949 (2003-07-01), Blanch
patent: 2003/0229592 (2003-12-01), Florance et al.
patent: 2004/0030616 (2004-02-01), Florance et al.
patent: 2004/0049445 (2004-03-01), Kishore
patent: 2004/0083164 (2004-04-01), Schwartz et al.
patent: 2004/0111619 (2004-06-01), Laurie et al.
patent: 2004/0128149 (2004-07-01), Kemper et al.
patent: 2004/0138912 (2004-07-01), Campbell
patent: 2004/0138996 (2004-07-01), Bettenburg et al.
patent: 2004/0148211 (2004-07-01), Honarvar et al.
patent: 2004/0230512 (2004-11-01), Gulati
patent: 2005/0203839 (2005-09-01), Dowell et al.
patent: 2006/0004651 (2006-01-01), Corr et al.
patent: 2006/0059073 (2006-03-01), Walzak
patent: 2006/0100944 (2006-05-01), Reddin et al.
patent: 2006/0136330 (2006-06-01), DeRoy et al.
patent: 2006/0161448 (2006-07-01), Weild, IV
patent: 2007/0050285 (2007-03-01), Freeman
patent: 2007/0106523 (2007-05-01), Eaton et al.
patent: WO 99/13425 (1999-03-01), None
patent: WO 99/59084 (1999-11-01), None
patent: WO 01/41019 (2001-07-01), None
patent: WO 2006/020988 (2006-02-01), None
Guide to Underwriting with Desktop Underwriter, Sep. 2002, pp. 3, 4, 60, 61.
LoanPerformance Iintroduces Pretell™, Mortgage Industry's First Naitonal Loan-Level Prepayment Scoring System, PR Newswire, Oct. 25, 2004, 3 pgs.
Abraham, Jesse, A life preserver for loans, Mortgage Banking, Jun. 1999, vol. 59, iss. 9, 6 pgs.
Fannie Mae, “Guide to Underwriting with Desktop Underwriter®”, Sep. 2002; 63 pgs.
Edocs, “edocs Teams with Fannie Mae to Offer Lenders Online Account Management Solution,” Press Release, Mar. 12, 2001, 2 pgs., edocs, Inc., USA.
Fannie Mae, “Fannie Mae Unveils MORNETPlus on the Web; Lenders Can Now Access Automated Underwriting and Other Mortgage Transaction Services on Fanniemae.com,” Press Release, Mar. 23, 2000, 2 pgs., Fannie Mae, USA.
Fannie Mae, “Fannie Mae Announces MORNETPlus Connections; Now Provides Lenders with Access to the Largest Network of Service Providers on the Web for Appraisals, Flood Certificates, Title Insurance and Closing, and Escrow Services,” Press Release, Apr. 18, 2001, 3 pgs., Fannie Mae, USA.
Fannie Mae, “Fannie Mae and First American Financial to Provide Lenders with Electronic Access to More Products on MORNETPlus Network; Appraisals, Flood Certificates, and Title Insurance in Offering,” Press Release, Dec. 21, 1999, 2 pgs, Fannie Mae, USA.
Raines Franklin D., “Statement by Franklin D. Raines Chairman and CEO of Fannie Mae, Speech at 2003 Fannie Mae eBusiness Forum,” Sep. 17, 2003, 6 pgs, Fannie Mae, USA.
Object Management Group, “Fannie Mae”, CORBA Banking/Finance, Sep. 17, 2001, 2 pgs, Object Management Group, Needham, MA, USA.
Smith Tom, “E-Commerce Holds Keys to Home Ownership: Fannie Mae drives hug volumes of mortgage business to its e-marketplace,” Internetweek.com, Undated, 5 pgs., Internetweek.com, USA.
Smith Tom , “Fannie Mae Ramps up Web Apps: Q&A with Julie St. John , Executive Vice President and Chief Technology Office and Michael Williams President of Fannie Mae e-Business,” Internetweek.com, Undated, 11 pgs., Internetweek.com, USA.
Sun, “Success on Sun: Software Development Case Study Federal National Mortgage Association (Fannie Mae),” Mar. 1995, 10 pgs, Sun, USA.
Raines Franklin D., “Speech by Franklin D. Raines Chairman and CEO of Fannie Mae, Fannie Mae and the Mortgage Industry in the E-Commerce Age,” May 8, 2000, 20 pgs., Fannie Mae, USA.
Williams Michael, “Technology and Other Keys to the Boom in Refinancing,” American Banker, Apr. 20, 2003, 3 pgs, vol. 168, Issue 63, p. 8., American Banker USA.
Breakthroughs in Mortgage Banking: Looking Toward the Future, Real Estate Finance Press, Mortgage Bankers Association of America, 1996, pp. 5-1-5-8, ISBN 1-57599-016-4, Jess Lderman, Editor.
Fannie Mae, “Delivering Loans for MBS”, 1996, 138 pages, Fannie Mae, Washington, DC, USA.
Fannie Mae, “Guide to Underwriting with Desktop Underwriter”, Oct. 1997, 152 pages, Verison 4.0, Fannie Mae, Washington, DC, USA.
Fannie Mae, “MORNET MBS Pool Submission System User's Guide”, Sep. 1998, 259 pages, Version 5.3, Fannie Mae, Washington, DC, USA.
Fannie Mae, “Making Good Delivery A Guide to Delivering Loans for Cash and MBS”, 1994, 121 pages, Fannie Mae, Washington, DC, USA.
Fannie Mae, “MORNET Cash Delivery System User's Guide”, Nov. 1997, 177 pages, Version 2.6, Fannie Mae, Washington, DC, USA.
Fannie Mae, “Delivering Loans for Cash”, 1997, 96 pages, Fannie Mae, Washington, DC, USA.
Fannie Mae, “MORNET Manager User's Guide”, Nov. 1998, 187 pages, Version 3.0, Fannie Mae, Washington, DC, USA.
Fannie Mae, “MORNET Servicing Support System User's Guide”, Dec. 1998, 370 pages, Fannie Mae, Washington, DC, USA.
Fannie Mae, “Selling”, 1995-2002 et al, 1119 pgs, Fannie Mae, USA.
Fannie Mae, “Investor Accounting: Cash”, 1996, 132 pages, Fannie Mae, Washington, DC, USA.
Fannie Mae, “Secondary Marketing: Cash”, 1997, 81 pages, Fannie Mae, USA.
Fannie Mae, “General Servicing Fundamentals”, 1996, 174 pages, Fannie Mae, USA.
Laser Overview, May 1993, chapters 1-18.
Fannie Mae, “Servicing Guide”, 1995-2002 et al, 318 pages, Forward, Table of Contents, Sections III, IX, X, and XI, Fannie Mae, USA.
Office Action for U.S. Appl. No. 11/857,304, mail date Feb. 5, 2009, 32 pages.
Office Action for U.S. Appl. No. 11/857,304, mail date Jul. 22, 2009, 30 pages.
Office Action for U.S. Appl. No. 11/901,965, mail date Mar. 17, 2009, 15 pages.
Office Action for U.S. Appl. No. 11/901,965, mail date Sep. 11, 2009, 10 pages.
Gonzalez, Building Sustainable Housing Finance Markets: Proceedings of the Housing Finance Roundtable in the Andean Region, Housing Finance International, Mar. 2005, 12 pages, vol. 19, Iss. 3, London.
Harvey et al., Low- and Moderate-Income Home Financing: What are the Trends in Kansas City?, Federal Reserve Bank of Kansas City, Financial Industry Perspectives, Oct. 2003, pp. 1-14.
Office Action for U.S. Appl. No. 11/857,926, mail date Feb. 23, 2010, 34 pages.
Office Action for U.S. Appl. No. 11/857,926, mail date Jul. 7, 2010, 36 pages.

LandOfFree

Say what you really think

Search LandOfFree.com for the USA inventors and patents. Rate them and share your experience with other people.

Rating

System and method for acquiring a mortgage loan does not yet have a rating. At this time, there are no reviews or comments for this patent.

If you have personal experience with System and method for acquiring a mortgage loan, we encourage you to share that experience with our LandOfFree.com community. Your opinion is very important and System and method for acquiring a mortgage loan will most certainly appreciate the feedback.

Rate now

     

Profile ID: LFUS-PAI-O-4310136

  Search
All data on this website is collected from public sources. Our data reflects the most accurate information available at the time of publication.