Mortgage loan data processing system and method for a loan broker

Abstract

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.

1 - 20 . (canceled) 
     
     
         21 . A system comprising:
 a MLS (Multiple Listing Service) interface adapted to receive MLS data;   a lender interface adapted to receive one or more rates from one or more lenders, each of the one or more rates comprising one or more loan parameters;   an interface adapted to receive loan customer information;   one or more processors adapted to generate one or more qualifying programs based on the MLS data and at least one of the one or more rates, when the loan customer information is within the one or more loan parameters; and   a display interface adapted to display at least one of the one or more qualifying programs.   
     
     
         22 . The system of  claim 21 , wherein the loan customer information received from the loan customer further comprises referring the loan customer to a lender. 
     
     
         23 . A system comprising:
 a lender interface adapted to receive one or more rates, each of the one or more rates comprising one or more loan parameters;   a loan originator interface adapted to receive loan customer information about a loan customer from a loan originator;   one or more processors, at least one of the one or more processors generating one or more qualifying programs based on at least one of the one or more rates when the loan customer information is within the one or more loan parameters; and   a display interface adapted to display to the originator at least one of the one or more qualifying programs.   
     
     
         24 . The system of  claim 23 , wherein the loan originator is the loan customer. 
     
     
         25 . The system of  claim 24 , wherein at least one of the one or more processors generates a referral, the referral referring the loan customer to a lender. 
     
     
         26 . A system comprising:
 a graphical user interface adapted to receive loan application data from a loan originator regarding a loan customer;   one or more storage devices adapted to store the loan application data;   one or more data interfaces adapted to receive additional data, the receipt of the additional data coordinated by the loan originator; and   one or more processors adapted to generate, based on the loan application data and the additional data, one or more disclosure documents when necessary to comply with one or more of a lending law, a lending regulation, a lending guideline, and a licensing requirement.   
     
     
         27 . The system of  claim 26 , wherein the disclosure documents comprise one more of:
 a Good Faith Estimate,   a fair lending notice, and   a disclosure about the relationship between a lender and a loan originator.   
     
     
         28 . The system of  claim 26 , wherein the lending law is RESPA and the additional data comprises one or more of:
 credit report data,   an underwriting decision,   underwriting data,   an underwriting condition,   flood certification data,   pest control data,   home inspection data,   escrow data,   title data,   fee data,   appraisal data, and   MLS data; and   the fee data comprises one or more of:   an appraisal fee,   a credit report fee,   a loan discount fee,   a loan origination fee,   a broker fee,   a flood certificate fee,   a tax service fee,   a wire transfer fee,   a processing fee,   an underwriting fee,   a document preparation fee,   an administration fee,   a lender fee,   a title fee,   an escrow fee,   an insurance fee,   a courier fee,   a processing fee,   a notary fee,   an endorsement fee,   a local government fee,   a pest control fee, and   a MLS fee.   
     
     
         29 . The system of  claim 26 , wherein at least one of the one or more disclosure documents comprise one or more of a loan originator amount and a loan originator percentage. 
     
     
         30 . The system of  claim 26 , wherein at least one of the one or more disclosure documents indicate that the loan originator qualifies for under one or more of:
 a law regulating loan origination,   a regulation regulating loan origination,   a guideline relating to loan origination, and   a licensing requirement regulating loan origination.   
     
     
         31 . The system of  claim 26 , wherein the law regulating loan origination is RESPA. 
     
     
         32 . A system comprising:
 a lender interface adapted to receive one or more loan details for a loan product, the loan details comprising a pre-determined formula;   a loan originator interface adapted to receive loan customer information about a loan customer from a loan originator; and   one or more processors adapted to determine a credit based on the loan details and the loan customer information using the pre-determined formula.   
     
     
         33 . The system of  claim 32 , wherein the one or more processors further determine a credit amount of the credit. 
     
     
         34 . The system of  claim 32 , wherein the one or more processors further generate, based upon the loan application data, one or more disclosure documents when necessary to comply with one or more of a lending law, a lending regulation, a lending guideline, and a licensing requirement. 
     
     
         35 . The system of  claim 32 , wherein the one or more processors are further adapted to allow payment of origination fees, the payment complying with or exceeding compliance with one or more of:
 a law regulating loan origination,   a regulation regulating loan origination,   a guideline relating to loan origination, and   a licensing requirement regulating loan origination.   
     
     
         36 . A system comprising:
 a first interface adapted to receive loan data regarding a loan customer from a loan originator, the loan data comprising a plurality of required data items;   a storage device adapted to store the loan data;   a second interface adapted to receive from an automated underwriting system one of:
 an approval, or one or more conditions; and 
 one or more processors adapted to generate a loan application based on the loan data and one of: 
 the approval, or 
 the one or more conditions. 
   
     
     
         37 . The system of  claim 36 , wherein the automated underwriting system is owned by an investor. 
     
     
         38 . A system comprising:
 a first interface adapted to receive loan data regarding a loan customer from a loan originator, the loan data comprising a plurality of required data items;   a storage device adapted to store the loan data;   a second interface adapted to:
 transfer an AUS (Automated Underwriting System) submission to an automated underwriting system, the AUS submission comprising the required data items; and 
   based on the required data items, receive from the automated underwriting system one of:
 one or more conditions, 
 a notification that the AUS submission is not approved, 
 a request for non-automated underwriting , 
 one or more reasons for the request, 
 a denial, and 
 one or more reasons for denial; and 
   one or more processors adapted to generate a notification, the notification notifying the loan originator about one or more of:
 at least one of the one or more conditions, 
 the AUS submission is not approved, 
 the request for non-automated underwriting, 
 at least one of the one or more reasons for the request, 
 the denial, and 
 at least one of the one or more reasons for denial. 
   
     
     
         39 . The system of  claim 38 , wherein the first interface allows a user to change one or more of the plurality of required data items after the loan originator receives one or more of the one or more conditions and the denial. 
     
     
         40 . The system of  claim 39 , wherein the user is the loan originator. 
     
     
         41 . The system of  claim 39 , wherein the user is not the loan originator. 
     
     
         42 . The system of  claim 38 , wherein the automated underwriting system is owned by an investor. 
     
     
         43 . A system comprising:
 a loan origination interface adapted to receive from a first entity loan application data regarding a loan customer;   a memory adapted to store the loan application data;   a qualification data interface adapted to receive from a second entity a plurality of qualification items;   one or more processors adapted to:
 determine, based on the loan application data and the plurality of qualification items, whether the loan application data is complete enough to comply with one or more of a lending law, a lending regulation, a lending guideline, and a licensing requirement; and 
 contact the first entity when the loan application data is incomplete. 
   
     
     
         44 . The system of  claim 43 , wherein the lending law is RESPA. 
     
     
         45 . The system of  claim 43 , wherein the second entity is one or more of a lender, an investor, a broker and a loan originator, wherein the loan originator is not the loan customer. 
     
     
         46 . The system of  claim 43 , wherein the first entity is one or more of a loan originator and the loan customer. 
     
     
         47 . A system comprising:
 a loan origination interface adapted to receive from a first entity loan application data regarding a loan customer;   a memory adapted to store the loan application data;   a qualification data interface adapted to receive from a second entity a plurality of qualification items, wherein one or more of the plurality of qualification items are required qualification items; and   one or more processors adapted to:
 determine based on the loan application data and the plurality of qualification items whether the loan application data is complete enough to comply with one or more of a lending law, a lending regulation, a lending guideline, and a licensing requirement based on completion of the required qualification items. 
   
     
     
         48 . The system of  claim 47 , wherein the lending law is RESPA. 
     
     
         49 . The system of  claim 47  wherein the second entity is one or more of a lender, an investor, a broker and a loan originator, wherein the loan originator is not the loan customer. 
     
     
         50 . The system of  claim 47 , wherein the first entity is one or more of a loan originator and the loan customer. 
     
     
         51 . A system comprising:
 a loan origination interface adapted to receive from a first entity loan application data regarding a loan customer;   a memory adapted to store the loan application data;   a qualification data interface adapted to receive from a second entity a plurality of qualification items, wherein one or more of the plurality of qualification items are required qualification items; and   one or more processors adapted to:
 indicate the required qualification items; and 
 determine, based on the loan application data and completion of the required qualification items, whether the loan application data is complete enough to comply with one or more of a lending law, a lending regulation, a lending guideline, and a licensing requirement. 
   
     
     
         52 . The system of  claim 51 , wherein the lending law is RESPA. 
     
     
         53 . The system of  claim 51 , wherein the second entity is one or more of a lender, an investor, a broker and a loan originator, wherein the loan originator is not the loan customer. 
     
     
         54 . The system of  claim 51 , wherein the first entity is one or more of a loan originator and the loan customer. 
     
     
         55 . A system comprising:
 an interface adapted to receive loan data regarding loan customer from a loan originator, the loan data comprising a property;   a storage device adapted to store the loan data;   a service provider interface adapted to receive a service provider data report, the service provider data report based on the property; and   one or more processors adapted to generate one or more of an approval and a loan application based on the loan data and the service provider data report.   
     
     
         56 . The system of  claim 55 , further comprising an ordering interface adapted to allow the loan originator to order service provider data. 
     
     
         57 . The system of  claim 56 , further comprising a fee interface adapted to set a fee for the service provider data. 
     
     
         58 . The system of  claim 57 , wherein the one or more processors further generate one or more disclosure documents, the one or more disclosure documents comprising the fee for the service provider data. 
     
     
         59 . A system comprising:
 an interface adapted to receive loan data regarding loan customer from a loan originator, the loan data comprising a property;   a storage device adapted to store the loan data;   a first processor adapted to:
 determine when service provider data is required, and 
 instruct the loan originator to order a service provider data report; 
   a service provider interface adapted to receive a service provider data report, the service provider data report based on the property, the service provider data report received at the request of the loan originator; and   a second processor adapted to generate one or more of an approval and a loan application based on the loan data and the service provider data report.   
     
     
         60 . A system comprising:
 a graphical user interface adapted to receive loan application data from a loan originator regarding a loan customer;   one or more storage devices adapted to store the loan application data;   one or more data interfaces adapted to receive additional data, the receipt of the additional data coordinated by the loan originator; and   one or more processors adapted to generate a loan approval based upon the loan application data and the additional data.   
     
     
         61 . The system of  claim 60 , wherein the one or more processors further generate, based upon the loan application data and the additional data, one or more disclosure documents when necessary to comply with one or more of a lending law, a lending regulation, a lending guideline, and a licensing requirement. 
     
     
         62 . The system of  claim 61 , wherein the disclosure documents comprise, one or more of a loan origination amount, and a loan origination percentage. 
     
     
         63 . The system of  claim 60 , wherein the receipt of loan application data is a first loan originator service, wherein the receipt of additional data is a second loan originator service, further comprising:
 a loan application transfer interface that electronically transfers the loan application data to a computer associated with a lender, wherein first and second loan originator services are not duplicative of a lender's services such that the loan originator qualifies for compensation under one or more of:   a law regulating loan origination,   a regulation regulating loan origination,   a guideline relating to loan origination, and   a licensing requirement regulating loan origination.   
     
     
         64 . The system of  claim 60 , wherein the one or more processors further generate, based on the loan application data and the additional data, an indication that the loan originator qualifies for one or more of a loan origination amount and a loan origination percentage under one or more of:
 a law regulating loan origination,   a regulation regulating loan origination,   a guideline relating to loan origination, and   a licensing requirement regulating loan origination.   
     
     
         65 . The system of  claim 60 , wherein the additional data comprises one or more of:
 credit report data,   an underwriting decision,   underwriting data,   an underwriting condition,   flood certification data,   pest control data,   home inspection data,   escrow data,   title data,   fee data,   appraisal data, and   MLS data; and   the fee data comprises one or more of:   an appraisal fee,   a credit report fee,   a loan discount fee,   a loan origination fee,   a broker fee,   a flood certificate fee,   a tax service fee,   a wire transfer fee,   a processing fee,   an underwriting fee,   a document preparation fee,   an administration fee,   a lender fee,   a title fee,   an escrow fee,   an insurance fee,   a courier fee,   a processing fee,   a notary fee,   an endorsement fee,   a local government fee,   a pest control fee, and   a MLS fee.   
     
     
         66 . A system comprising:
 an input interface adapted to receive loan application data from a loan originator;   a memory adapted to store loan application data;   one or more processors adapted to:
 determine, based on the loan application data, one or more additional items necessary to generate a loan application in order to comply with one or more of:
 one or more lending laws, 
 one or more lending regulations, 
 one or more lending guidelines, and 
 one or more licensing requirements, and 
 
 generate a loan application based on the loan application data and the completion of the one or more additional items, wherein the completion of the one or more additional items is coordinated by the loan originator. 
   
     
     
         67 . The system of  claim 66 , wherein at least one of the one or more processors is further adapted to:
 determine, based on the loan application data and the additional items, one or more disclosure documents necessary to generate the loan application in order to comply with one or more of:
 at least one of the one or more lending laws, 
 at least one of the one or more lending regulations, 
 at least one of the one or more lending guidelines, and 
 at least one of the one or more lending licensing requirements; and 
   generate the one or more disclose documents based on the loan application data and the one or more additional items.   
     
     
         68 . A system comprising:
 an input interface adapted to receive loan application data regarding a loan;   a memory adapted to store loan application data;   one or more processors adapted to determine, based on the loan application data, additional steps that are necessary by one or more of a loan customer, a loan originator, a lender, and an investor to process the loan in order to comply with one or more of:
 one or more lending laws, 
 one or more a lending regulations, 
 one or more lending guidelines, and 
 one or more licensing requirements. 
   
     
     
         69 . The system of  claim 68 , wherein at least of the one or more processors is further adapted to:
 determine, based on the loan application data, one or more disclosure documents necessary to generate the loan application in order to comply with one or more of:
 at least one of the one or more lending laws, 
 at least one of the one or more lending regulations, 
 at least one of the one or more lending guidelines, and 
 at least one of the one or more lending licensing requirements, and 
   generate the one or more disclose documents based on the loan application data and the one or more additional items.   
     
     
         70 . The system of  claim 68 , further comprising one or more data interfaces adapted to receive additional data, the receipt of the additional data coordinated by the loan originator, wherein the additional steps are further based on the additional data.