Method for automatically determining the approval status of a potential borrower
Patent 5797133 Issued on August 18, 1998. Estimated Expiration Date: 
February 3, 2017. Estimated Expiration Date is calculated based on simple USPTO term provisions. It does not account for terminal disclaimers, term adjustments, failure to pay maintenance fees, or other factors which might affect the term of a patent.
February 3, 2017. Estimated Expiration Date is calculated based on simple USPTO term provisions. It does not account for terminal disclaimers, term adjustments, failure to pay maintenance fees, or other factors which might affect the term of a patent.Patent ReferencesInteractive computerized communications systems with voice input and output Voice response system with automated data transfer Method and apparatus for automatically determining the approval status of a potential borrower Method and apparatus for handling incoming telephone calls Patent #: 5276731 InventorsAssigneeApplicationNo. 794142 filed on 02/03/1997US Classes:705/38, Credit (risk) processing or loan processing (e.g., mortgage)705/35Finance (e.g., banking, investment or credit)ExaminersPrimary: Poinvil, FrantzyAttorney, Agent or FirmInternational ClassG06F 157/00AbstractA method is provided for the real-time automatic determination of the approval status of a potential borrower of a loan. The method of acquiring information from the potential borrower includes the steps of (1) detecting the change in a data stream of a trunk link routed telephone call; (2) answering the call initiated by the potential borrower; (3) determining the DNIS; (4) choosing a proper lender script from a library; (5) starting the script, the script being a series of pre-recorded voice messages which are questions, statements and/or instructions; (6) receiving the DTMF tones transmitted by the telephone keypad button pressed by the caller in response to a question; (7) translating the tones into the numerical values; (8) storing the values in a data processor; (9) terminating the call; and, (10) resetting the system for the next call. The method of determining the approval status and credit limit of the potential borrower includes the steps of: (11) automatically determining the approval status of the potential borrower according to criteria provided by a lender, including utilizing the predefined information in this determination, and information received by accessing a credit bureau; and (12) automatically transmitting information regarding the approval status back to the dealer and/or lender. Additionally, prior to determining the approval status of the potential borrower, the method may include (13) automatically transmitting information identifying the potential borrower to a data processing system maintained by a credit bureau; (14) automatically selecting financial information regarding the potential borrower from the data stored by the credit bureau and transmitting it to the control location; and (15) automatically utilizing this information obtained from the credit bureau in determining the approval status of the potential borrower.Other References
Field of SearchBanking systemsBANKING WITH USAGE MEASUREMENT (E.G., CALL OR TRAFFIC REGISTER) Hardcopy record generating Line status indication or call alerting AUTOMATED ELECTRICAL FINANCIAL OR BUSINESS PRACTICE OR MANAGEMENT ARRANGEMENT Finance (e.g., banking, investment or credit) Credit (risk) processing or loan processing (e.g., mortgage) | |
