MORTGAGE LOAN DATA PROCESSING SYSTEM AND METHOD FOR A LOAN BROKER

摘要

An exemplary embodiment includes a data processing system and method for managing the origination of a mortgage loan by a loan originator in coordination with a loan broker for a loan customer. The loan originator is not the loan broker. The loan originator provides services necessary for the origination of the mortgage loan and not duplicative of services provided by the loan broker.

主权项

1. A system comprising:
means for processing a mortgage loan for a loan customer from loan application data prepared by a loan originator at least partly operating a loan originator computer in coordination with a loan broker distinct from the loan originator, comprising: means for the loan originator providing services necessary for an origination of the mortgage loan and not duplicative of services provided by the loan broker that legally comply with guidelines of federal and state law, further comprising means for transferring the loan application data from the loan originator computer to a loan broker computer operated by the loan broker; means for reviewing the loan application data to determine completeness; and means for completing a loan application whenever the loan application data is incomplete by contacting the loan originator.