Patent ID: 8612320
Filing Date: 2013-12-17
Classification: G06Q

Abstract:
1. A computer-based method of detecting potentially fraudulent loan applications on a property, comprising: obtaining data from a plurality of loan applications and storing the data in a database; searching the data in the database and detecting, using a server, whether at least two of the plurality of loan applications are using the same property as collateral; determining, using the server, a status for each of the plurality of loan applications which are using the same property as collateral; identifying, using the server, two or more of the plurality of loan applications which are using the same property as collateral, where each of the two or more of the plurality of loan applications identified is currently pending, has an approved status, and is from a different lender; and alerting, using the server, a user of the two or more of the plurality of loan applications identified as potentially fraudulent loan applications on a property.