Patent ID: 7698212

Claim:
A method of managing the closing of a real property transaction using a networked computer system, wherein the computer system includes one or more client computers, a server computer, and a network which interfaces the one or more client computers and the server computer, the method comprising: accessing through a lender, one or more computer program products on the server computer from one of the one or more client computers, to manage the closing of a real property transaction; entering, through the lender only, a first group of data into a settlement statement used in a real property transaction; accessing through a settlement agent, the one or more computer program products on the server computer from one of the one or more client computers; entering, through the settlement agent only, a second group of data into the settlement statement; authorizing by the lender through a lender computer the second group of data entered by the settlement agent; auditing the settlement statement both prior to and after funding; auditing custom-selected loan files as directed by the lender via a first module of the one or more computer program products to ensure compliance with government regulations and warehouse funding source requirements, wherein the first module consolidates its custom audit results finds with mandatory audits for viewing by users of the one or more computer program products, wherein the custom audits comprise: determining if a subject loan has been assigned a registration identification number and accuracy thereof; performing the mandatory audits by a second module of the one or more computer program products on each file, wherein the mandatory audits comprise: comparing a borrower name against a database; comparing a zip code of a collateral property with a zip code database; determining if any new disclosure documents are needed in order to have a compliant closing by auditing the first group of data; and positively match a title insurance company to an identity provided by the settlement agent to assure a valid insured closing service letter; and wherein the real property transaction will be presented for funding and the settlement statement will be presented for signature only if the lender authorizes the second group of data entered into the settlement statement by the settlement agent.