Laura A Kneavel

US Patent:

20080262921, Oct 23, 2008

Filed:

Dec 13, 2007

Appl. No.:

11/955514

Inventors:

Eric Telljohann - Charlotte NC, US
Gina M. Turpin - Elverta CA, US
Julie Pietras - Charlotte NC, US
Kevin Montgomery - Matthews NC, US
Laura Kneavel - Cary NC, US
Pat Mooney - San Francisco CA, US
Aditya Bhasin - Charlotte NC, US
Neelu Burugapalli - Stanley NC, US
Richard Bramhall - Charlotte NC, US
Danny Adkins - Davidson NC, US
Loren Bennett - Dallas TX, US
Rachel Nemecek - Charlotte NC, US

Assignee:

BANK OF AMERICA CORPORATION - Charlotte NC

International Classification:

G06Q 40/00
G06Q 30/00

US Classification:

705 14, 705 35

Abstract:

A bundled mortgage package which includes several different features into a mortgage package, so that the process of actually obtaining a mortgage from a lender can be easier because the borrower's worries of the fees, charges, and other costs can be reduced or altogether eliminated since such fees charges and other costs may be combined, waived or otherwise resolved for the borrower is described. The lender may waive all lender fees, pay all 3party fees, and not require a lender's title policy. The lender may use the owner's title policy as the sole title insurance. A lender may not require mortgage insurance, waive fees associated with programs for borrower protection for involuntary unemployment or accidental death, guarantee that the loan will close within a certain period of time where the lender pays the borrower money if the loan doesn't close within the certain time period.