Patent ID: 8090635
Filing Date: 2012-01-03
Classification: G06Q

Abstract:
1. A computer-implemented method of originating a mortgage loan, comprising: receiving information from a first computer related to a mortgage loan application from a borrower, wherein the information includes information related to a mortgage payment insurance policy, the mortgage payment insurance policy providing that if the borrower defaults in its payment obligation under the mortgage, the insurer will make one or more insurance payments to borrower's payee, the default requiring no further conditions, the insurer at risk for the insurance payments should a loss result, such insurance payments to be made during the period that the mortgage loan is in default; generating an underwriting determination in an automated underwriting engine for the mortgage loan based on the borrower having the mortgage payment insurance policy, the underwriting determination to include an evaluation of any terms or conditions of the loan imposed by the mortgage payment insurance policy; and originating a mortgage loan having an interest rate paid by the borrower, the interest rate based on the existence of the mortgage payment insurance policy and subject to any terms or conditions thereof, wherein the above steps are performed by one or more computers other than the first computer programmed to perform the above steps.