APPRAISAL AND MORTGAGE DOCUMENT EVALUATION AND SCORING SYSTEM AND METHOD

摘要

A system and related methods for the management and evaluation of real estate appraisals, broker price opinions, and mortgage documents. The system determines a standardized score representative of the accuracy and quality of a real estate appraisal broker price opinion, or mortgage documents, or combinations thereof. Data is extracted and evaluated according to a plurality of rules applicable to the type of appraisal, broker price opinion, or mortgage document. Each rule is given a particular weight, and a score may be calculating by summing each instance of a rule triggered multiplied by the weight assigned to that rule. Weights may be set by experts, or determined by statistical analysis.

主权项

1. A method for evaluating a mortgage loan, comprising the steps of:
determining an appraisal score for a real estate appraisal connected to a mortgage loan, said appraisal score calculated by:
extracting, using a computer processor or microprocessor, data from the appraisal;evaluating, using a computer processor or microprocessor, the extracted data against a plurality of rules applicable to the type of appraisal, wherein each rule is assigned a particular weight, and said particular weights may vary for each rule;multiplying, using a computer processor or microprocessor, the weight of each rule by a variable r if the rule is triggered or fired; andautomatically calculating, using a computer processor or microprocessor, the sum of the multiplied weights of all rules that have been triggered or fired to determine the appraisal score; and determining a broker price opinion score for a broker price opinion connected to the mortgage loan, said broker price opinion calculated by:
extracting, using a computer processor or microprocessor, data from the broker price opinion;evaluating, using a computer processor or microprocessor, the extracted data against a plurality of rules applicable to the type of broker price opinion, wherein each rule is assigned a particular weight, and said particular weights may vary for each rule;multiplying, using a computer processor or microprocessor, the weight of each rule by a variable r if the rule is triggered or fired; andautomatically calculating, using a computer processor or microprocessor, the sum of the multiplied weights of all rules that have been triggered or fired to determine the broker price opinion score.