Mortgage Grader awarded 3rd patent, for system assessing lender compliance

Price and rate shopping portal Mortgage Grader Inc. has been awarded a patent for a system that the company says will help it assess whether lenders are following new rules for qualifying borrowers, accurately pricing loan terms, and offering the best available credit terms in accordance with the Consumer Financial Protection Bureau’s “ability-to-repay” and “qualified mortgage” rules.

U.S. Patent No. 8,626,645 is the third patent granted to the Laguna Niguel, Calif.-based company, which operates mortgagegrader.com.

Mortgage Grader was previously granted Patent No. 7,366,694 in 2008 and Patent No. 7,680,728 in 2010 for methods it uses to help lenders evaluate borrowers and help borrowers compare loans. Source: marketwired.com.

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