SYSTEMS AND METHODS FOR ELECTRONICALLY REPORTING FINANCIAL INFORMATION AND NOTIFICATIONS

摘要

Systems and methods for reporting information to financial institutions and insurance carriers are disclosed. A reporting system can be a loss payee notification system comprising a communication device, a computer processor, a status update unit, and a bill management unit. The communication device can enable the reporting system to communicate with financial institutions and insurance carriers. The computer processor can provide various functions, including reconciling data received from the financial institutions and insurance carriers with data stored in a database. The status update unit can update the financial institutions of changed insurance information related to properties financed by the financial institutions and can also update the insurance carriers of changed loan information related to properties insured by the insurance carriers. The bill management unit can manage escrow bills to escrow accounts kept by the financial institutions. Other embodiments of the reporting system are also disclosed.