Method and system for monitoring for and reporting of lien distress events
View Patent ↗A computer-based method of monitoring for and reporting of a lien distress event relatable to a lien against a property includes the steps of extracting loan data from a client loan portfolio, defining the lien distress event relatable to the loan data by using one or more lien distress event criterion, detecting an occurrence of the lien distress event iteratively, and notifying a client of the occurrence of the lien distress event.
1. A computer-based method of monitoring for and reporting of a lien distress event relatable to a lien against a property, comprising:
extracting, using a processor, loan data from a client loan portfolio;
defining, using the processor, the lien distress event relatable to the loan data by using one or more lien distress event criterion;
iteratively detecting, using the processor, a property database and a credit reporting database for an occurrence of the lien distress event; and
notifying, using the processor, a client of the occurrence of the lien distress event.
2. The method of claim 1 , wherein the loan data comprises borrower identification data, property data, or combinations thereof.
3. The method of claim 1 , wherein the one or more lien distress event criterion comprise a loan repayment default status, a property foreclosure status, a monthly payment delinquency status, a monthly payment delinquency trend, a borrower credit score, a borrower credit trend, a borrower bankruptcy status, a property transfer status, or combinations thereof.
4. The method of claim 1 , wherein the detecting comprises:
retrieving, using a processor, updated data from a lien distress event database; and
comparing, using the processor, the one or more lien distress event criterion with the updated data.
5. The method of claim 4 , wherein the lien distress event database comprises a public record database, a credit reporting database, or combinations thereof, and wherein the lien distress event database is updated periodically to reflect changes pertinent to the loan data.
6. The method of claim 1 , wherein the detecting comprises counting, using the processor, a number of the occurrences of the lien distress event.
7. The method of claim 6 , wherein the one or more lien distress event criterion comprise a threshold value for the number of occurrences of the lien distress event.
8. The method of claim 1 , wherein the defining comprises selecting, using the processor, at least one lien stress event criterion or setting a threshold value for at least one lien stress event criterion.
9. The method of claim 1 , wherein the notifying comprises:
generating, using the processor, a lien distress report that records the occurrence of the lien distress event; and
sending, using the processor, the lien distress report to the client.
10. A computer-based method of monitoring for and reporting of a lien distress event relatable to a lien against a property, comprising:
receiving, using a processor, loan data from a client holding the lien;
defining, using the processor, one or more lien distress event criterion;
iteratively monitoring, using the processor, a property database and a credit reporting database for lien distress events based on the one or more lien distress event criterion; and
reporting, using the processor, a result of the monitoring to the client holding the lien.
11. The method of claim 10 , wherein the loan data comprises property data and borrower data relatable to the lien.
12. The method of claim 11 , wherein the property database records and updates transactions relatable to the property data, and wherein the credit reporting database records and updates events relatable to the borrower data.
13. The method of claim 10 , wherein the monitoring comprises:
detecting, using the processor, updated records from the property and the credit reporting databases relatable to the loan data;
analyzing, using the processor, the updated records based on the one or more lien distress event criterion; and
ascertaining, using the processor, an occurrence of the lien distress event.
14. The method of claim 13 , wherein the reporting takes place only after ascertaining the occurrence of the lien distress event.
15. The method of claim 13 , wherein the reporting comprises:
generating, using the processor, a lien distress event document recording the result of each monitoring; and
notifying, using the processor, the client about the lien distress event document.
16. The method of claim 10 , wherein the one or more lien distress event criterion comprise a loan repayment default status, a property foreclosure status, a monthly payment delinquency status, a monthly payment delinquency trend, a borrower credit score, a borrower credit trend, a borrower bankruptcy status, a property transfer status, or combinations thereof.
17. A system for monitoring for and reporting of lien distress events relatable to lender loans on a property, comprising:
a client device for receiving a client loan portfolio, extracting client loan data from the client loan portfolio, and receiving one or more lien distress event criterion;
a first server having:
a data standardization module for standardizing the client loan data;
a database search engine for iteratively searching a property database and a credit reporting database for records that match the standardize client loan data and satisfy the one or more lien distress event criterion; and
a reporting module for generating a search report of the database search engine and notifying the client device after the search report is ready; and
a second server coupled between the client device and the first server via a network, configured to transmit the client loan data and the one or more lien distress event criterion from the client device to the first server, and configured to transmit the search report from the first server to the client device.
18. The system of claim 17 , wherein the client loan data comprises property data pertinent to the property and borrower data pertinent to a borrower of the loans.
19. The system of claim 17 , wherein the first server further comprises a client loans updating module for updating the client loan data.
20. The system of claim 17 , wherein the client loan data and the search report are stored temporarily in the second server.
21. The system of claim 17 , wherein the one or more lien distress event criterion comprise a loan repayment default status, a property foreclosure status, a monthly payment delinquency status, a monthly payment delinquency trend, a borrower credit score, a borrower credit trend, a borrower bankruptcy status, a property transfer status, or combinations thereof.
22. A computer-based method of monitoring for and reporting of a lien distress event relatable to a property, comprising:
receiving, using a processor, loan data from a client loan portfolio and one or more lien stress event criterion from a client;
automatically monitoring, using the processor, a property database and a credit reporting database for lien distress events defined by the one or more lien stress event criterion;
generating, using the processor, a lien stress event report based on the automatically monitoring; and
storing, using a memory, the lien stress event report.