Patent ID: 7395239
Filing Date: 2008-07-01
Classification: G06Q

Abstract:
1. A method for processing applications for loans secured by real estate, comprising the steps of: (a) prompting an applicant for one or more parameters of a requested loan, including loan amount information; (b) prompting the applicant for data regarding the applicant, including information regarding real estate owned by the applicant to be used to secure the requested loan; (c) automatically interfacing with at least one credit reporting service for real-time access and review of the applicant's entire credit based on data provided by the applicant; (d) applying a plurality of predetermined rules to the data received in steps (a) through (c); (e) automatically applying loan criteria to the requested loan based on the parameters supplied by the applicant in step (a) and the results of step (d); (f) automatically applying a plurality of strategies to the results of step (e) and generating a plurality of proposed loans based on the results of steps (d) and (e), wherein each of the proposed loans includes a unique set of loan terms; and (g) presenting the applicant with the plurality of proposed loans, wherein steps (a) through (g) are performed during a single user session.