Patent ID: 7716123

Claim:
A system for automatically and rapidly submitting and processing mortgage insurance claims, comprising; a remote servicer terminal connected into a network, the servicer terminal capturing data related to initially submitting a mortgage insurance claim and initially submitting the mortgage insurance claim over the network to an insurer, the data further being related to an insured mortgage loan after default on the mortgage loan by a borrower; a claims database storing data relating to the mortgage insurance claim; a transaction server connected to the claims database and through the network to the remote servicer terminal to receive inputs from, and provide outputs to the remote servicer terminal, said inputs including the captured data and the mortgage insurance claim; and a claim audit rulebase accessed by the transaction server and causing the transaction server to retrieve data relating to the mortgage insurance claim from the claims database and for automatically performing an audit and adjustments of the submitted mortgage insurance claim, providing results of the audit and adjustments to the servicer terminal, and presenting the servicer with an option to interact with a claim representative to resolve any issues, the claim audit rulebase utilizing rules directed to determine whether loss can be mitigated by acquisition by the insurer of a property subject to the insured mortgage loan.