Dennis J 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.