Granted Patent B2

US 12,400,260 · App. 18/641,541 · Granted Aug 26, 2025

Inventors: Benjamin Tarmann (Heyworth, IL); Richard R. Rhodes (Tacoma, WA); Lokesh Awasthy (Santa Clara, CA); Denise DeRoeck (Bloomington, IL); Jaime Skaggs (Chenoa, IL); Jacob J. Alt (Downs, IL); Shanna L. Phillips (Bloomington, IL); Shyam Tummala (Bloomington, IL); Matthew S. Meierotto (Bloomington, IL); Richard D. Groonwald (Bloomington, IL); Brian J. Hughes (Scottsdale, AZ)

Assignee: State Farm Mutual Automobile Insurance Company

G06Q40/03G06F16/27G06N20/00G06Q50/16

Abstract

Claims (71)

1. A computer-implemented method for determining a customer is approved for a loan, the computer-implemented method comprising:

receiving, at a processor, a request for a loan associated with a real estate property;

retrieving, by the processor, based on information associated with the request, and from a first block of a first blockchain, a loan approval amount;

retrieving, by the processor and from a second block of a second blockchain, an appraisal value for the real estate property;

verifying, by the processor, the appraisal value based on a first cryptographic key-pair associated with the second blockchain by establishing a consensus with a remote node that a solution associated with the first cryptographic key-pair is valid;

based on verifying the appraisal value, determining, by the processor and based on the loan approval amount and the appraisal value, an approval status for the loan;

generating, by the processor and based on the approval status, a third block of the first blockchain comprising data representing the approval status; and

verifying, by the processor, the approval status based on a second cryptographic key-pair associated with the first blockchain.

2. The computer-implemented method of claim 1 , further comprising:

detecting, by the processor, an updated loan approval amount for the real estate property in the first block of the first blockchain; and

generating, by the processor and based on the updated loan approval amount, a fourth block of the first blockchain comprising second data representing an updated approval status for the loan determined based on the updated loan approval amount.

3. The computer-implemented method of claim 1 , further comprising:

determining a difference between the appraisal value for the real estate property and a list price for the real estate property; and

determining the approval status for the loan further based on the difference.

4. The computer-implemented method of claim 3 , further comprising retrieving, from the second block of the second blockchain, the list price for the real estate property.

5. The computer-implemented method of claim 1 , further comprising:

detecting, by the processor, an updated appraisal value for the real estate property in the second block of the second blockchain; and

generating, by the processor and based on the updated appraisal value, a fourth block of the first blockchain comprising second data representing an updated approval status for the loan determined based on the updated appraisal value.

6. The computer-implemented method of claim 1 , further comprising compiling a new block for one or more of the first blockchain or the second blockchain comprising the approval status.

7. The computer-implemented method of claim 1 , wherein the approval status comprises an amount that a customer is approved for a mortgage.

8. The computer-implemented method of claim 1 , further comprising:

retrieving, by the processor and from a third block of a third blockchain, real estate property information associated with the real estate property;

verifying, by the processor, the real estate property information based on a third cryptographic key-pair associated with the third blockchain;

based on verifying the real estate property information, determining the appraisal value for the real estate property based on the real estate property information; and

storing the appraisal value for the real estate property in the second block of the second blockchain.

9. The computer-implemented method of claim 1 , wherein the real estate property information comprises one or more of:

an age of the real estate property,

historical appraisal data for the real estate property,

area data for an area proximate to the real estate property; or

claim data for an area proximate to the real estate property.

10. A system for determining a customer is approved for a mortgage, the system comprising:

one or more processors;

a network interface configured to interface with the one or more processors; and

a memory configured to store non-transitory computer executable instructions that are executed by the one or more processors to perform operations comprising:

receiving a request for a loan associated with a real estate property;

retrieving, based on information associated with the request, and from a first block of a first blockchain, a loan approval amount;

retrieving, from a second block of a second blockchain, an appraisal value for the real estate property;

verifying the appraisal value based on a first cryptographic key-pair associated with the second blockchain by establishing a consensus with a remote node that a solution associated with the first cryptographic key-pair is valid;

based on verifying the appraisal value, determining, based on the loan approval amount and the appraisal value, an approval status for the loan;

generating, based on the approval status, a third block of the first blockchain comprising data representing the approval status; and

verifying the approval status based on a second cryptographic key-pair associated with the first blockchain.

11. The system of claim 10 , wherein the operations further comprise:

receiving a request for the appraisal value of the real estate property; and

in response to the request, providing the appraisal value of the real estate property retrieved from the second block of the second blockchain.

12. The system of claim 10 , wherein determining the approval status for the loan comprises:

determining a difference between the appraisal value for the real estate property and a list price for the real estate property; and

determining the approval status for the loan further based on the difference.

13. The system of claim 12 , wherein the operations further comprise retrieving, from the second block of the second blockchain, the list price for the real estate property.

14. The system of claim 12 , wherein determining the approval status for the loan comprises:

determining, based on the difference, that the appraisal value for the real estate property is greater than or equal to the list price for the real estate property; and

determining that the customer is mortgage ready for the real estate property based on determining that the appraisal value for the real estate property is greater than or equal to the list price for the real estate property.

15. The system of claim 12 , wherein the operations further comprise:

detecting an updated list price for the real estate property in the second block of the second blockchain; and

updating, based on the updated list price for the real estate property, the approval status for the customer.

16. The system of claim 10 , wherein determining the approval status comprises:

determining a difference between the loan approval amount and the appraisal value; and

determining the approval status for the loan further based on the difference.

17. The system of claim 10 , wherein the operations further comprise:

retrieving, from a third block of a third blockchain, title information for the real estate property; and

determining the approval status for the loan further based on the title information for the real estate property.

18. A system for determining a customer is approved for a mortgage, the system comprising:

means for receiving a request for a loan associated with a real estate property;

means for retrieving, based on information associated with the request, and from a first block of a first blockchain, a loan approval amount;

means for retrieving, from a second block of a second blockchain, an appraisal value for the real estate property;

means for verifying the appraisal value based on a first cryptographic key-pair associated with the second blockchain by establishing a consensus with a remote node that a solution associated with the first cryptographic key-pair is valid;

means for determining, based on verifying the appraisal value, the loan approval amount, and the appraisal value, an approval status for the loan;

means for generating, based on the approval status, a third block of the first blockchain comprising data representing the approval status; and

means for verifying the approval status based on a second cryptographic key-pair associated with the first blockchain.

19. The system of claim 18 , further comprising:

means for determining that the real estate property is not mortgage ready based on determining that the appraisal value of the real estate property is less than a list price of the real estate property.

20. The system of claim 19 , further comprising means for compiling a new block for the second blockchain comprising an indication that the real estate property is not mortgage ready.

Continuity (8)

References Cited (170)