SYSTEM FOR APPLYING QUALITY CONTROL TESTS TO TRANSACTION DATASETS
An electronic closing platform facilitates provision of a variety of closing services for lenders, closing agents, borrowers or other parties to closing transactions. Electronic quality control procedures are invoked for closing data and documents whether they are in electronic or paper form. The platform is independently accessible and therefore accommodates data sharing between mortgage industry participants. Electronic signature capabilities, including a batch signing functionality, and tamper evident sealing after signing accommodate improved processing and system integrity. Additional features include registry filing, an electronic vault for storing electronic documents, and electronic recording.
1 - 30 . (canceled)
31 . A system comprising:
physical data storage configured to store a plurality of datasets; and
a computer system in communication with the physical data storage, the computer system comprising computer hardware, the computer system programmed to at least:
access a lender dataset corresponding to a closing, said lender dataset stored in the physical data storage;
access a closing agent dataset corresponding to the closing, said closing agent dataset stored in the physical data storage; and
apply a quality control process to a closing transaction dataset corresponding to closing documents prior to the closing, the quality control process applying rules to determine at least one of the following: wherein the quality control process applies rules to determine
discrepancies between the lender dataset and the closing agent dataset;
whether a value is proper for a given field in the closing transaction dataset in accordance with rules to support the closing; and
whether the closing transaction dataset includes required fields in accordance with rules to support the closing.
32 . The system of claim 31 , wherein the computer system is further programmed to accommodate an electronic signing of the closing documents at the closing.
33 . The system of claim 31 , wherein applying the quality control process further comprises application of rules to the closing transaction dataset to ensure that values within the closing transaction dataset are sufficient to support a related transaction.
34 . The system of claim 33 , wherein the related transaction is a sale of a mortgage note corresponding to the closing in a secondary mortgage market.
35 . The system of claim 31 , wherein the computer system is further programmed to automatically populate the closing agent dataset with data corresponding to the closing based upon the lender dataset.
36 . The system of claim 31 , wherein the lender dataset comprises an XML file.
37 . The system of claim 31 , wherein the lender dataset comprises an electronic document.
38 . The system of claim 31 , wherein the closing agent dataset comprises an electronic mortgage dataset.
39 . The system of claim 31 , wherein at least one of the rules is provided by a lender or an investor.
40 . The system of claim 31 , wherein the quality control process applies rules to determine discrepancies between the lender dataset and the closing agent dataset.
41 . The system of claim 31 , wherein the quality control process applies rules to determine whether a value is proper for a given field in the closing transaction dataset in accordance with rules to support the closing.
42 . The system of claim 31 , wherein the quality control process applies rules to determine whether the closing transaction dataset includes required fields in accordance with rules to support the closing.
43 . A system comprising:
physical data storage configured to store a plurality of datasets; and
a computer system in communication with the physical data storage, the computer system comprising computer hardware, the computer system programmed to at least:
access a first dataset corresponding to a closing, said first dataset stored in the physical data storage;
access a second dataset corresponding to the closing, said second dataset stored in the physical data storage; and
apply a quality control process to a closing transaction dataset corresponding to closing documents prior to the closing, the quality control process applying rules to determine:
discrepancies between the first dataset and the second dataset; and
whether the values within the closing transaction dataset are sufficient for a sale in a secondary market.
44 . The system of claim 43 , wherein applying the quality control process further comprises application of rules to the closing transaction dataset to determine whether the closing transaction dataset includes required fields in accordance with rules to support the closing.
45 . The system of claim 43 , wherein applying the quality control process further comprises application of rules to the closing transaction dataset to determine whether a value is proper for a given field in the closing transaction dataset in accordance with rules to support the closing.
46 . The system of claim 43 , wherein the first dataset comprises an XML file.
47 . The system of claim 43 , wherein the first dataset comprises an electronic mortgage dataset.
48 . The system of claim 43 , wherein the second dataset is in an XML format.
49 . A system comprising:
physical data storage configured to store a plurality of datasets; and
a computer system in communication with the physical data storage, the computer system comprising computer hardware, the computer system programmed to at least:
access a first dataset corresponding to a closing, said first dataset stored in the physical data storage;
access a second dataset corresponding to the closing, said second dataset stored in the physical data storage; and
apply a quality control process to a closing transaction dataset corresponding to closing documents prior to the closing, the quality control process applying rules to determine at least one of the following:
discrepancies between the first dataset and the second dataset;
whether a value is proper for a given field in the closing transaction dataset in accordance with rules to support the closing;
whether the closing transaction dataset includes required fields in accordance with rules to support the closing.
50 . The system of claim 49 , wherein the computer system is further programmed to accommodate an electronic signing of the closing documents at the closing.
51 . The system of claim 49 , wherein applying the quality control process further comprises application of rules to the closing transaction dataset to ensure that values within the closing transaction dataset are sufficient to support a related transaction.
52 . The system of claim 51 , wherein the related transaction is a sale of a mortgage note corresponding to the closing in a secondary mortgage market.
53 . The system of claim 49 , wherein the first and second datasets are in a common format.
54 . The system of claim 49 , wherein the quality control process applies rules to determine discrepancies between the first dataset and the second dataset.
55 . The system of claim 49 , wherein the quality control process applies rules to determine whether a value is proper for a given field in the closing transaction dataset in accordance with rules to support the closing.
56 . The system of claim 49 , wherein the quality control process applies rules to determine whether the closing transaction dataset includes required fields in accordance with rules to support the closing.