The patent badge is an abbreviated version of the USPTO patent document. The patent badge does contain a link to the full patent document.
The patent badge is an abbreviated version of the USPTO patent document. The patent badge covers the following: Patent number, Date patent was issued, Date patent was filed, Title of the patent, Applicant, Inventor, Assignee, Attorney firm, Primary examiner, Assistant examiner, CPCs, and Abstract. The patent badge does contain a link to the full patent document (in Adobe Acrobat format, aka pdf). To download or print any patent click here.
Patent No.:
Date of Patent:
Dec. 28, 2021
Filed:
May. 09, 2018
State Farm Mutual Automobile Insurance Company, Bloomington, IL (US);
Benjamin Tarmann, Normal, IL (US);
Richard R. Rhodes, Tacoma, WA (US);
Lokesh Awasthy, Santa Clara, CA (US);
Denise DeRoeck, Bloomington, IL (US);
Jaime Skaggs, Chenoa, IL (US);
Jacob J. Alt, Downs, IL (US);
Shanna L. Phillips, Bloomington, IL (US);
Shyam Tummala, Bloomington, IL (US);
Matthew S. Meierotto, Bloomington, IL (US);
Richard D. Groonwald, Bloomington, IL (US);
Brian J. Hughes, Scottsdale, AZ (US);
State Farm Mutual Automobile Insurance Company, Bloomington, IL (US);
Abstract
A system and computer-implemented method for approving a dynamic mortgage application using a blockchain. In one aspect, the method may include determining a customer is approved for a mortgage ('mortgage ready') and determining a real estate property is mortgage ready. The method may include comparing a calculated amount in which the customer is approved for a mortgage loan with a calculated appraisal value of the real estate property, and approving the mortgage application of the customer when the calculated amount the customer is approved for the mortgage loan is equal to, or exceeds, the calculated appraisal value of the real estate property, reducing a processing time and closing time of the mortgage.