Dennis Edward Conway

US Patent:

20030149658, Aug 7, 2003

Filed:

Jan 31, 2003

Appl. No.:

10/355597

Inventors:

Doug Rossbach - Rumson NJ, US
Dennis Conway - Houston TX, US

Assignee:

RADIAN GROUP, INC. - PHILADELPHIA PA

International Classification:

G06F017/60

US Classification:

705/038000

Abstract:

The invention is directed to a method and apparatus for protecting a party having an interest in a real property against an inaccurate appraisal of the value of the real property, wherein a loan is provided from a lender to a borrowed, the loan being secured by the real property wherein the system involves generating a determined value of the real property using an automated valuation model; and covering the lender under a warranty for a warranted amount comprising at least a portion of the determined value to provide financial compensation for at least a portion of the appraised in value of the real property. The system of the invention may be accomplished over a computer network, such as by using email and the Internet.

US Patent:

20040019507, Jan 29, 2004

Filed:

Jul 29, 2002

Appl. No.:

10/207935

Inventors:

Howard Yaruss - Philadelphia PA, US
Dennis Conway - Houston TX, US

International Classification:

G06F017/60

US Classification:

705/004000

Abstract:

The invention relates to a computer program embodied in a machine readable device for communicating mortgage guaranty insurance related information to a user in connection with a loan for a real property to be made by a lender to a borrower, wherein an insurance policy has been issued to the lender to cover a financial loss arising from a default on the loan independently of the reason for the default that provides a separate monetary limit for loan defaults involving one or more undisclosed liens on the property that secures the loan. The invention also includes a data interface to transmit loan information; to request a loan related search by the information system of at least one borrower related data source and at least one property related data source; to receive the results of the loan related search; and to request registration of the loan under the policy.

US Patent:

20040019508, Jan 29, 2004

Filed:

Jul 29, 2002

Appl. No.:

10/208369

Inventors:

Howard Yaruss - Philadelphia PA, US
Dennis Conway - Houston TX, US

International Classification:

G06F017/60

US Classification:

705/004000

Abstract:

The invention is directed to a system for providing insurance related information to a user in connection with a loan for a real property to be made by the lender to a borrower, wherein an insurance policy has been issued to the lender to provide financial compensation for a loss arising from a default on the loan, independently of the reason for the default; and to provide a separate monetary limit for loan defaults involving one or more undisclosed liens on the property that secures the loan. The system includes a data interface programmed to receive loan information on the loan from the user; cause a loan related search to be conducted using the loan information of at least one borrower related data source and at least one property related data source to generate a report; provide the results of the loan related search to the user; and register the loan under the insurance policy if the loan is approved. The data interface may be further programmed to document that the lender has obtained a completed application from the borrower along with borrower supplied information setting forth any encumbrances known or suspected by the borrower; document that the lender has compared the report, the borrower's application, and the borrower supplied information to verify the lien position of said lender when making said loan; and document that the lender has ensured that all outstanding encumbrances are subordinated to a new mortgage for the loan.

US Patent:

20040019544, Jan 29, 2004

Filed:

Jul 29, 2002

Appl. No.:

10/207360

Inventors:

Howard Yaruss - Philadelphia PA, US
Dennis Conway - Houston TX, US

International Classification:

G06F017/60

US Classification:

705/035000

Abstract:

The invention is directed to a method for applying mortgage guaranty insurance to a loan for a real property to be made by a lender to a borrower, which includes covering the lender for a loss arising from a default on the loan, independently of the reason for the default, wherein the coverage provides a separate monetary limit for loan defaults involving one or more undisclosed liens on said property that secures said loan; causing a loan related search to be conducted, wherein the loan related search includes a search of both borrower related information and property related information; causing a report to be generated based upon the loan related search; and associating the loan with the insurance policy if the loan is approved. The invention may further include requiring the lender to obtain a completed application from the borrower along with borrower supplied information regarding any encumbrances known or suspected by the borrower; having the lender compare the report, the borrower's application, and the borrower supplied information to verify a lien position of the lender when making the loan; and having the lender ensure that all outstanding encumbrances on said property are subordinated to a new mortgage for the loan.

US Patent:

20040019557, Jan 29, 2004

Filed:

Jul 29, 2002

Appl. No.:

10/208128

Inventors:

Howard Yaruss - Philadelphia PA, US
Dennis Conway - Houston TX, US

International Classification:

G06F017/60

US Classification:

705/038000

Abstract:

The invention relates to a system for protecting a lender, having a security interest in a real property against a loss arising in default by a borrower on a loan therefor, which includes covering the lender under a mortgage guaranty insurance policy to provide financial compensation for a portion of the loss independently of the reason for the default; and providing a separate monetary limit for loan defaults involving one or more undisclosed liens on the property that secures the loan; causing the loan to be generated between a lender and a borrower for a portion of the value of the property, which is associated with the policy to trigger the policy in the event of a default on the loan; and requiring that a loan related search be conducted prior to covering of the property under the policy, including reviewing both borrower related information and property related information.