US5797133A
Expired / Lapsed
US
⏱️ 0.0 years remaining
Method for automatically determining the approval status of a potential borrower
Assignee: NANJI ANVAR
•
Filing: 1997-02-03
•
Granted: 1998-08-18
•
Expires: 2017-02-03
Abstract
Abstract A 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.
Inventors
- 👤 Robert Mebane Jones
- 👤 Charles Frederick Goetz
Bibliographic Details
Application Number
—
Jurisdiction
US
Data Source
google_patents
Last Synchronized
2026-11-04 00:31
CPC Classifications
G; G07; G07F; G07F7/00; G07F7/08; G06; G06Q; G06Q20/00; G06Q20/38; G06Q20/40; G06Q20/403; G06Q20/4037; G06Q40/00; G06Q40/03; G06Q40/08; H; H04; H04M; H04M3/00; H04M3/42; H04M3/487; H04M3/493
Claims Analysis
Total Claims: 18
Claim 1
Independent Claim
262 words
A method for the automatic determination of the approval status of a caller who is a potential borrower for a loan using a data processing system, comprising the steps of: (a) monitoring at least one data line at a central control location for an incoming call from the potential borrower; (b) detecting said incoming call; (c) establishing a communication link with said incoming call; (d) transmitting a signal from said control location over said data line; (e) presenting a set of questions to said caller, such that for each question presented, said caller can respond by entering tone-generated caller information on a standard touch tone keypad; (f) receiving said tone-generated caller information at said data processing system; (g) determining the accuracy of said caller's response to said set of questions; (h) repeating a selected voice script message until accurate caller information is received; (i) formulating an access code from said tone-generated caller information, said code operable for retrieving from a credit information source caller credit information; (j) formulating a predetermined data profile of said caller that is different from said access code; (k) accessing and retrieving said caller's credit information using said code; (l) comparing and verifying said caller's profile to said caller's credit information thereby insuring informational integrity of retrieved data from said caller's credit information; (m) interpreting said information at said control location; (n) automatically determining at said control location the approval status of said caller according to criteria provided by a lender; and (o) automatically transmitting information regarding the approval status from said control location to a remote location.
Claim 2
Independent Claim
262 words
A method for the automatic determination of the approval status of a caller who is a potential borrower for a loan using a data processing system, comprising the steps of: (a) monitoring at least one data line at a central control location for an incoming call from the potential borrower; (b) detecting said incoming call; (c) establishing a communication link with said incoming call; (d) transmitting a signal from said control location over said data line; (e) presenting a set of questions to said caller, such that for each question presented, said caller can respond by entering tone-generated caller information on a standard touch tone keypad; (f) receiving said tone-generated caller information at said data processing system; (g) determining the accuracy of said caller's response to said set of questions; (h) repeating a selected voice script message until accurate caller information is received; (i) formulating an access code from said tone-generated caller information, said code operable for retrieving from a credit information source caller credit information; (j) formulating a predetermined data profile of said caller that is different from said access code; (k) accessing and retrieving said caller's credit information using said code; (l) comparing and verifying said caller's profile to said caller's credit information thereby insuring informational integrity of retrieved data from said caller's credit information; (m) interpreting said information at said control location; (n) automatically determining at said control location the approval status of said caller according to criteria provided by a lender; and (o) automatically transmitting information regarding the approval status from said control location to a remote location.
Claim 3
Dependent Claim
13 words
The method of claim 1, wherein said data line is a telephone line.
Claim 4
Dependent Claim
16 words
The method of claim 1, wherein said data line is a cable for transmitting electronic information.
Claim 5
Dependent Claim
13 words
The method of claim 1, wherein said control location comprises a data processor.
Claim 6
Dependent Claim
27 words
The method of claim 1, wherein in step (b) said call is detected by monitoring and detecting a change in the data stream in said data line.
Claim 7
Dependent Claim
20 words
The method of claim 1, wherein said signal in step (d) said signal is at least one prerecorded voice message.
Claim 8
Dependent Claim
21 words
The method of claim 6, wherein said at least one voice message is selected from a script of prerecorded voice messages.
Claim 9
Dependent Claim
20 words
The method of claim 7, wherein said voice messages are selected from the group consisting of questions, statements and instructions.
Claim 10
Dependent Claim
23 words
The method of claim 1, wherein in step m said interpretation includes the step of translating said tones into their correlated number values.
Claim 11
Dependent Claim
19 words
The method of claim 1, wherein said information in step m is stored in memory in said control location.
Claim 12
Dependent Claim
23 words
The method of claim 1, further comprising at least one tone transmitted by said caller in response to said questions identify said caller.
Claim 13
Dependent Claim
31 words
The method of claim 1, further comprising at least one tone transmitted by said caller in response to questions determine the type and terms of loan products sought by said caller.
Claim 14
Dependent Claim
99 words
The method of claim 1, further comprising the steps of: (aa) prior to said determining step (h), accessing credit information at a credit bureau; (bb) querying said credit bureau for information concerning said borrower using said interpreted information in step m; (cc) automatically selecting stored financial information regarding said potential borrower from a data file of said stored financial information located at said credit bureau; (dd) automatically receiving said selected stored financial information regarding said potential borrower from said credit bureau at said control location; and (ee) automatically utilizing said selected stored financial information in said determining step (h).
Claim 15
Dependent Claim
38 words
The method of claim 1, wherein said step of automatically transmitting information regarding said approval status comprises automatically creating an image of said information and transmitting said image of said information to said remote location by facsimile transmission.
Claim 16
Dependent Claim
38 words
The method of claim 1, wherein said loan is selected from the group consisting of a real estate mortgage loan, a consumer loan, a refinancing loan, an automobile loan, a personal revolving debt loan and a general loan.
Claim 17
Dependent Claim
17 words
The method of claim 1, further comprising the step of updating said criteria provided by said lender.
Claim 18
Dependent Claim
25 words
The method of claim 1, further comprising the step of transmitting current interest rates of said lender from said control location to a remote location.
References Cited (Backward Citations)
USPTO Annuity & Maintenance Windows
| Annuity Stage | Window Opens | Payment Deadline | Surcharge Period Until | Estimated Fee | Status |
|---|---|---|---|---|---|
| 3.5 Years (Year 4) | 2001-08-17 | 2002-02-16 | 2002-08-18 | $2000.00 | Window Closed / Lapsed |
| 7.5 Years (Year 8) | 2005-08-17 | 2006-02-16 | 2006-08-18 | $3760.00 | Window Closed / Lapsed |
| 11.5 Years (Year 12) | 2009-08-17 | 2010-02-16 | 2010-08-18 | $7700.00 | Window Closed / Lapsed |