IP Library Granted Patent US 7,464,109
Granted Patent B2
US 7,464,109 · App. 10/676,621 · Granted Dec 9, 2008

System and method of compiling real property information from a central database

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Quick Facts
Patent No.
US 7,464,109
App. No.
10/676,621
Granted
Dec 9, 2008
Kind
B2
Abstract

A computer network ( 10 ) uses a central database ( 48 ) to manage a portfolio of real property holdings. The real property information related to the portfolio is stored on the central database and organized into a plurality of information categories. A computer hosts a website ( 60 ) for users to access the central database and view one or more categories of the real property information. Each authorized user can edit the real property information and save the edited real property information back to the central database. Other users access the edited real property information from the central database. The central database can also be used to compile real property information for offering as collateral in a loan package. The lender is given access to the real property information through the website. The real property information as selected for review by the lender is made available on the website.

Claims (36)

1. A method of compiling real property information from a central database, comprising:

providing a computer system for executing a website, the computer system being configured to retrieve data from the central database via a computer network;

storing real property information from a portfolio of real properties on the central database, the real property information being organized into a plurality of information categories consisting of general purpose records, infrastructure records, business records, accounting records, and maintenance records, to aid in retrieval of the real property information based on specific requests therefor;

determining a valuation of each of the real properties of the portfolio of real properties;

retrieving the real property information from multiple information categories on the central database;

combining the real property information from the multiple information categories to provide a set of real properties from the portfolio of real properties, the set of real properties to be offered as collateral in a loan package such that a fair market valuation of the set of real properties is at least equal to a value of the loan package in the event of a foreclosure and default sale;

providing access to the real property information related to the set of real properties to a lender through the website by providing a log-in code to the lender which limits the lender to viewing the real property information related to the set of real properties;

providing search selections for the lender to search based on attributes of the set of real properties, wherein the lender makes selections to view the real property information which is retrieved from the central database, wherein the search selections consist of property identification (ID), address, executive summary, lender notes, demographics, owner, lien, building square footage, acres, map, occupancy, environmental, cost, book value, appraisal, property tax, title report, income or expense, competition, budget, rent roll, unit mix, furniture, fixtures and equipment (FFE), and contacts, and wherein the search selections are provided in a single web page;

providing a summary of search results for a plurality of real properties when search selections match more than one real property;

transmitting the real property information to a client computer system;

displaying only a first portion of the real property information related to the set of real properties which is approved for lender viewing;

receiving a request for a second portion of real property information from the lender;

verifying user access privileges of the lender;

adding the second portion of real property information to that approved for lender viewing if the lender has sufficient user access privileges; and

displaying the added real property information as selected by the lender on the website, the website including a user interface for filtering the real property information and being transmitted to the client computer system via a computer network.

2. The method of claim 1 further including:

accessing the real property information from the central database through a communication network; and

displaying the real property information for the lender operating a computer system remote from the central database.

3. A computer system for compiling real property information from a central database, comprising:

processor means for executing a website, the processor means being configured to retrieve data from the central database via a computer network;

storage means for storing real property information from a portfolio of real properties on the central database, the real property information being organized into a plurality of information categories consisting of general purpose records, infrastructure records, business records, accounting records, and maintenance records, to aid in retrieval of the real property information based on specific requests therefor;

determination means for determining a valuation of each of the real properties of the portfolio of real properties;

retrieval means for retrieving the real property information from multiple information categories on the central database;

combining means for combining the real property information from the multiple information categories to provide a set of real properties from the portfolio of real properties, the set of real properties to be offered as collateral in a loan package such that a fair market valuation of the set of real properties is at least equal to a value of the loan package in the event of a foreclosure and default sale;

access means for providing access to the real property information related to the set of real properties to a lender through the website by providing a log-in code to the lender which limits the lender to viewing the real property information related to the set of real properties;

search selection means for providing search selections for the lender to search based on attributes of the set of real properties, wherein the lender makes selections to view the real property information which is retrieved from the central database, wherein the search selections consist of property identification (ID), address, executive summary, lender notes, demographics, owner, lien, building square footage, acres, map, occupancy, environmental, cost, book value, appraisal, property tax, title report, income or expense, competition, budget, rent roll, unit mix, furniture, fixtures and equipment (FFE), and contacts, and wherein the search selections are provided in a single web page;

summation means for providing a summary of search results for a plurality of real properties when search selections match more than one real property;

transmission means for transmitting the real property information to a client computer system;

first display means for displaying only a first portion of the real property information related to the set of real properties which is approved for lender viewing;

receiving means for receiving a request for a second portion of real property information from the lender;

verification means for verifying user access privileges of the lender;

addition means for adding the second portion of real property information to that approved for lender viewing if the lender has sufficient user access privileges; and

second display means for displaying the added real property information as selected by the lender on the website, the website including a user interface for filtering the real property information and being transmitted to the client computer system via a computer network.

4. The computer system of claim 3 further including:

second access means for accessing the real property information from the central database through a communication network; and

third display means for displaying the real property information for the lender operating a computer system remote from the central database.