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:
Aug. 26, 2025
Filed:
Apr. 22, 2024
State Farm Mutual Automobile Insurance Company, Bloomington, IL (US);
Benjamin Tarmann, Heyworth, 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. In one aspect, the method may include determining a customer is approved for a mortgage and determining a real estate property is mortgage ready, including calculating an appraisal value for the real estate property based upon the information about the real property retrieved from a computer file or memory location/address (such as by using a machine learning or artificial intelligence algorithm). The method may still further include comparing the calculated amount the customer is approved for a mortgage loan with the calculated appraisal value of the real estate property; and approving the mortgage application of the customer for the real estate property when the calculated amount the customer is approved for the mortgage loan meets, or exceeds, the calculated appraisal value of the real estate property.