Appeal Number: 2006-2286
Application Number: 09/165,352
BACKGROUND
The appellants’ invention relates to a loan processing system (Specification,
p. 1). An understanding of the invention can be derived from a reading of
exemplary claim 77, which is reproduced below.
77. A method for electronically processing loan data for a loan
received from a user, the method comprising:
importing loan data from a loan origination software system into a
computer system;
automatically notifying the user of a need to fulfill suspense
conditions; and upon satisfaction of suspense conditions,
generating at the computer system a credit score based on the
imported loan data;
performing at the computer system an automated underwriting
procedure using the generated credit score and the imported
loan data;
performing at the computer system a risk-based pricing
operation using loan conditions established by the automated
underwriting procedure; and
providing the user with an automated rate lock opportunity
from the computer system over a network.
PRIOR ART
The prior art references of record relied upon by the examiner in rejecting
the appealed claims are:
Norris 5,870,721 February 9, 1999
Staff, Interest Rate Locks Not Hedges, Mortgage Marketplace,, Bethesda, vol. 20,
iss. 47, p. 1, December 8, 1997 (Mortgage Marketplace)
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