[54] LENDER DIRECT CREDIT EVALUATION AND LOAN PROCESSING SYSTEM
[75] Inventors: Diana R. Dykstra, Newcastle; Patricia M. Wade, Meadow Vista, both of Calif.
[73] Assignee: The Golden 1 Credit Union,
Sacramento, Calif.
[ * ] Notice: This patent is subject to a terminal disclaimer.
[21] Appl. No.: 09/300,749 [22] Filed: Apr. 26, 1999
Related U.S. Application Data
[63] Continuation of application No. 08/815,376, Mar. 10, 1997, Pat. No. 5,930,776, which is a continuation-in-part of application No. 08/146,692, Nov. 1, 1993, Pat. No. 5,611,052.
[51] Int. CI. G06F 17/60
[52] U.S. CI 705/38; 705/35
[58] Field of Search 235/375, 379,
235/380, 382; 705/1, 4, 35, 38, 39, 42,
44, 26
[56] References Cited
U.S. PATENT DOCUMENTS
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4,683,536 7/1987 Yamamoto 705/17
4,722,055 1/1988 Roberts 705/36
4,736,294 4/1988 Gill et al 705/38
4,752,877 6/1988 Roberts et al 705/35
4,774,664 9/1988 Campbell et al 705/38
5,025,373 6/1991 Keyser, Jr. et al 380/24
An apparatus and method for automatic credit evaluation and loan processing is disclosed. The apparatus includes a central processing unit which has capabilities for communicating with off-site remote access terminals. The central processing unit also includes facsimile transmission capabilities as well as capabilities for communicating with credit bureau computers. Mass storage capabilities are included for storing program modules executable on the central processing unit and for maintaining databases. Program modules are provided for remote access security, credit bureau information processing, credit scoring, message display, and facsimile generation. In operation, the central processing unit is accessed from a remote terminal, loan application information is entered into the remote terminal, credit bureau information is accessed by the apparatus, credit scoring is performed, and a loan application is approved or declined. All steps, except for the entering of loan application information into the remote terminal, are fully automated, require no intermediate human intervention, and no intermediate handling of paper records. Application status is provided to the user via a visual display on the remote access terminal and hard copy confirmation to the user and lender via facsimile transmission.
10 Claims, 7 Drawing Sheets
