Granted Patent B1

US 10,783,579 · App. 15/496,735 · Granted Sep 22, 2020

Inventors: Bradley W. Blackwell (Danville, CA); Peter R. Diliberti (Urbandale, IA); Mary K. Blue (Minneapolis, MN); Lisa M. Thomlinson (Thayer, IA); Jonathan M. Holste (Grimes, IA)

Assignee: WELLS FARGO BANK, N.A.

G06Q40/025

Abstract

Claims (36)

1. A computer-implemented method for facilitating a home mortgage, the method comprising, with one or more processors:

querying one or more databases to obtain terms for a plurality of loan products for the home mortgage;

normalizing the plurality of loan products into a consolidated loan product;

providing, for presentation at a display of a borrower computing device, a simplified user interface generated to include only one set of loan product terms, wherein the only one set of loan product terms are for the consolidated loan product;

providing an incentive for education for a home purchaser;

reducing an interest rate or closing costs for the consolidated loan product as the incentive;

originating the consolidated loan product for the home purchaser;

after origination of the consolidated loan product, determining a best fit for the consolidated loan product from among the plurality of loan products, wherein determining the best fit includes applying one or more rules; and

transferring the consolidated loan product to an entity associated with the best fit from the plurality of loan products.

2. The method of claim 1 , further comprising selecting the plurality of loan products from a plurality of government agencies.

3. The method of claim 1 , further comprising selecting the plurality of loan products from high loan-to-value loan products.

4. The method of claim 1 , further comprising selling the consolidated loan product to the entity.

5. The method of claim 1 , wherein the normalizing further comprises:

determining a plurality of loan terms associated with each of the plurality of loan products;

determining a plurality of negotiated terms associated with the plurality of loan products; and

combining the plurality of loan terms and the plurality of negotiated terms into the consolidated loan product.

6. The method of claim 1 , wherein the determining of the best fit for the consolidated loan product after origination of the consolidated loan product is performed as part of a batch process.

7. The method of claim 1 , wherein the determining of the best fit for the consolidated loan product after origination of the consolidated loan product is performed offline.

8. An electronic computing device, comprising:

at least one processor; and

memory encoding instructions that, when executed by the at least one processor, cause the at least one processor to:

query one or more databases to obtain terms for a plurality of loan products for a home mortgage;

normalize the plurality of loan products into a consolidated loan product;

providing, for presentation at a display of a borrower computing device, a simplified user interface generated to include only one set of loan product terms, wherein the only one set of loan product terms is for the consolidated loan product;

originate the consolidated loan product for a home purchaser;

after origination of the consolidated loan product, determine a best fit for the consolidated loan product from among the plurality of loan products, wherein to determine the best fit includes applying one or more rules;

provide an incentive for education for the home purchaser;

reduce an interest rate or closing costs for the consolidated loan product as the incentive; and

transfer the consolidated loan product to an entity associated with the best fit from the plurality of loan products.

9. The electronic computing device of claim 8 , wherein the instructions further cause the at least one processor to select the plurality of loan products from a plurality of government agencies.

10. The electronic computing device of claim 8 , wherein the instructions further cause the at least one processor to select the plurality of loan products from high loan-to-value loan products.

11. The electronic computing device of claim 8 , wherein the instructions further cause the at least one processor to sell the consolidated loan product to the entity.

12. The electronic computing device of claim 8 , wherein the instructions further cause the at least one processor to:

determine a plurality of loan terms associated with each of the plurality of loan products;

determine a plurality of negotiated terms associated with the plurality of loan products; and

combine the plurality of loan terms and the plurality of negotiated terms into the consolidated loan product.

Assignments (3)

Continuity (1)

Cited By (10)

US 12,210,984 US 12,217,197 US 12,254,427 US 12,400,154 US 12,412,120 US 12,412,131 US 12,412,132 US 12,524,820 US 12,547,991 US 12,651,275