Patent ID: 7593890
Filing Date: 2009-09-22
Classification: G06Q

Abstract:
1. A method for determining a processing prioritization of mortgage loan applications including determining a score representing a likelihood that an application for a mortgage loan will result in a closing, said method comprising: receiving, by a processor from one or more databases, application data including at least borrower information, property information, and a first interest rate; receiving, by the processor, home value information representing an estimated value of the property; receiving, by the processor, a second interest rate; calculating, by the processor, the score based on the received application data, received home value information, and received second interest rate, the score representing a likelihood that the mortgage loan will close; comparing, by the processor, the score with one or more additional scores for other mortgage loan applications; and prioritizing processing of the mortgage loan application based on the comparison; wherein said calculating the score further comprises: receiving a date corresponding to when the mortgage loan application will close with the first interest rate; periodically updating the second interest rate; and periodically calculating an updated score until the mortgage loan application has been processed, prior to the date, based on the updated second interest rate.