REAL ESTATE TRANSACTIONS

CROSS-REFERENCE TO RELATED APPLICATION

[0001] This application claims the benefit of U.S. Provisional Application No. 62/541,842, filed August 7, 2017, which is incorporated herein by reference in its entirety.

FIELD OF THE DISCLOSURE

[0002] The present disclosure relates to a system and associated methodology for closing real estate transactions.

BACKGROUND

[0003] The "background" description provided herein is for the purpose of generally presenting the context of the disclosure. Work of the presently named inventors, to the extent it is described in this background section, as well as aspects of the description which may not otherwise qualify as prior art at the time of filing, are neither expressly or impliedly admitted as prior art against the present invention.

[0004] Engaging in online economic activity via the Internet is becoming increasingly common. Electronic commerce (e-commerce) web sites and e-commerce applications are rapidly proliferating. Internet users can, among other things, securely bank, invest, buy and sell goods and services, and engage in a wide variety of forms of entertainment online.

However, one area in particular, the residential real estate market, is still a major threat for home buyers and sellers. Every year, over $5 billion is lost due to identity theft and phishing schemes during real estate closing due to the amount of data transmitted insecurely between buyers, sellers, and their closing agents. Real estate, especially residential real estate, is being bought and sold according to a decade's old paradigm. That is, the key players in the industry, realtors, mortgage brokers, and title companies, are technically unsophisticated - including lacking a convenient, safe, and secure way to close on a house. This results in a process which, for many home sellers and buyers, is shrouded in mystery, appearing arcane and convoluted, not to mention inefficient, inconvenient, insecure, non-personalized, and expensive.

SUMMARY

[0005] According to aspects of the disclosed subject matter, a server is configured to implement a method for managing real estate closing. The server includes processing circuitry configured to receive information corresponding to a sale of a house, and automatically provision a unique transaction site based on the received house sale

information. The transaction site includes an automatically generated welcome letter for a buyer of the house. The processing circuitry is also configured to receive customization information for the transaction site from the title agency so the title agency can organize the transaction site based on the specific real estate closing process of the title company. As a result, the transaction site is published based on the received customization information.

[0006] The foregoing paragraphs have been provided by way of general introduction, and are not intended to limit the scope of the following claims. The described embodiments, together with further advantages, will be best understood by reference to the following detailed description taken in conjunction with the accompanying drawings.

BRIEF DESCRIPTION OF THE DRAWINGS [0007] A more complete appreciation of the disclosure and many of the attendant advantages thereof will be readily obtained as the same becomes better understood by reference to the following detailed description when considered in connection with the accompanying drawings, wherein:

[0008] Fig. 1 illustrates an exemplary block diagram overview of a system for processing real estate closings according to one or more aspects of the disclosed subject matter;

[0009] Fig. 2 illustrates an exemplary screen display of a Dashboard of the real estate closing tool according to one or more aspects of the disclosed subject matter;

[0010] Fig. 3 illustrates an exemplary screen display of a Seller/Buyer Information Page of the real estate closing tool according to one or more aspects of the disclosed subject matter;

[0011] Fig. 4 illustrates an exemplary screen display of a Secure Messaging page of the real estate closing tool according to one or more aspects of the disclosed subject matter;

[0012] Fig. 5 illustrates an exemplary screen display of a Documents page of the real estate closing tool according to one or more aspects of the disclosed subject matter;

[0013] Fig. 6 illustrates an exemplary screen display of a Network page of the real estate closing tool according to one or more aspects of the disclosed subject matter;

[0014] Fig. 7 illustrates an exemplary screen display of a Preferred Vendors page of the real estate closing tool according to one or more aspects of the disclosed subject matter;

[0015] Fig. 8 illustrates an exemplary screen display of a Frequently Asked Questions (FAQ) page of the real estate closing tool according to one or more aspects of the disclosed subject matter;

[0016] Fig. 9 illustrates an exemplary screen display of a Resources page of the real estate closing tool according to one or more aspects of the disclosed subject matter;

[0017] Fig. 10 illustrates an exemplary screen display of a Task Management page of the real estate closing tool according to one or more aspects of the disclosed subject matter; [0018] Fig. 11 illustrates an exemplary screen display of an Administration page of the real estate closing tool according to one or more aspects of the disclosed subject matter;

[0019] Fig. 12 is an algorithmic flow chart of a method for generating a unique transaction site to process real estate closings according to one or more aspects of the disclosed subject matter;

[0020] Fig. 13 is an algorithmic flow chart of a method for processing real estate closings according to one or more aspects of the disclosed subject matter;

[0021] Fig. 14 is an algorithmic flow chart of a method for updating the Dashboard according to one or more aspects of the disclosed subject matter;

[0022] Fig. 15 is an algorithmic flow chart of a method for transmitting secure

communications in the real estate closing tool according to one or more aspects of the disclosed subject matter;

[0023] Fig. 16 is a hardware block diagram of a server according to one or more exemplary aspects of the disclosed subject matter;

[0024] Figs. 17A and 17B illustrate a new transaction page for the title company portal;

[0025] Figs. 18 A, 18B and 18C illustrate a home portal page for the title company portal;

[0026] Fig. 19 illustrates a referral page for the title company portal;

[0027] Fig. 20 illustrates transaction information settings on the title company portal;

[0028] Fig. 21illustrates the welcome letter view on the closing agent portal;

[0029] Fig. 22 illustrates the task list view on the closing agent portal;

[0030] Fig. 23 illustrates the buyer/seller links on the closing agent portal;

[0031] Fig. 24 illustrates the secure messaging page on the closing agent portal;

[0032] Fig. 25 illustrates the task creation/edit view on the closing agent portal; and

[0033] Fig. 26 illustrates the administration view on the closing agent portal. DETAILED DESCRIPTION

[0034] The description set forth below in connection with the appended drawings is intended as a description of various embodiments of the disclosed subject matter and is not necessarily intended to represent the only embodiment(s). In certain instances, the description includes specific details for the purpose of providing an understanding of the disclosed subject matter. However, it will be apparent to those skilled in the art that embodiments may be practiced without these specific details. In some instances, well-known structures and components may be shown in block diagram form in order to avoid obscuring the concepts of the disclosed subject matter.

[0035] Reference throughout the specification to "one embodiment" or "an embodiment" means that a particular feature, structure, characteristic, operation, or function described in connection with an embodiment is included in at least one embodiment of the disclosed subject matter. Thus, any appearance of the phrases "in one embodiment" or "in an embodiment" in the specification is not necessarily referring to the same embodiment.

Further, the particular features, structures, characteristics, operations, or functions may be combined in any suitable manner in one or more embodiments. Further, it is intended that embodiments of the disclosed subject matter can and do cover modifications and variations of the described embodiments.

[0036] It must be noted that, as used in the specification and the appended claims, the singular forms "a," "an," and "the" include plural referents unless the context clearly dictates otherwise. That is, unless clearly specified otherwise, as used herein the words "a" and "an" and the like carry the meaning of "one or more." Additionally, terms such as "first,"

"second," "third," etc., merely identify one of a number of portions, components, points of reference, operations and/or functions as described herein, and likewise do not necessarily limit embodiments of the disclosed subject matter to any particular configuration or orientation.

[0037] Referring now to the drawings, wherein like reference numerals designate identical or corresponding parts throughout the several views.

[0038] Fig. 1 illustrates an exemplary block diagram overview of a system 100 for processing real estate closings according to one or more aspects of the disclosed subject matter. In other words, the system 100 is configured to implement a method of managing real estate closings.

[0039] Generally, the system 100 is configured to make real estate closing simple, personalized, and secure. As mentioned above, every year, over $5 billion is lost due to identity theft and phishing schemes during real estate closing due to the amount of data transmitted unsecurely between buyers, sellers, and their closing agents. The system 100 is configured to make the real estate closing process more secure while also providing a highly personalized experience that keeps buyers and sellers more engaged in the closing process.

[0040] Additionally, the system 100 can be a cloud-based solution, for example, that provides closing agencies a portal where they can manage all of their transactions. Each agency has their own secure dashboard where they can view their open and recently closed transactions, their upcoming tasks across all of their transactions, as well as charts of their open and closed transactions to help track their overall performance. From this dashboard, closing agencies can customize the template for their transaction sites, as well as create new sites for each new transaction.

[0041] For example, each transaction can have a separate site that is secured and

personalized for that transaction. A transaction site can be created when a closing agent receives a new contract and fills out a form with the details on the transaction. The new transaction site is based off a template that is unique to that closing agency and can be further personalized for each transaction. The buyer(s), seller(s), buyer's agent(s), and sellers agent(s) will all receive login credentials to log in to their transaction site from their computer, laptop, tablet, smartphone, and the like. Additionally, the transaction site is secured and personalized for each user based on their role, so that they only see the data that is relevant to them.

[0042] More specifically, an exemplary system (e.g., system 100) can include user devices 102 and 104, a user application 106, a network connection 108, a server 110, a database 112, a web application 114, a web server 116, and one or more third party service providers 118. The user devices 102 and 104 can be any device comprising at least one processor and at least one memory/storage. Although only two user devices are illustrated, any number of user devices can connect to the network 108. The user devices 102, 104 can be mobile devices such as phones, tablets, laptops, watches, desktop computers, servers, etc. The user devices 102 and 104 communicate with the server 110 via the network 108. The user devices 102 and 104 can further communicate with websites associated with the third party service providers 118 via the network 108.

[0043] The server 110 includes the database 112 and the web application 114. Alternatively, the database 112 and/or the web application 114 can be located on a memory accessible to server 110. The database 112 is used to store information related to one or more real estate closing(s) received from users 120 and 122 through the devices 102 and 104 respectively. The database 112 further stores instruction information for the users 120 and 122, the service providers 118, etc. The web application 114 processes information received from the users 120, 122, the service providers 118, etc. The web application 114 further generates and updates the web pages shown in Figs. 2-11 via the web server 116.

[0044] The user application 106 can be a specific App downloaded on user devices 102, 104, and used for performing the real estate closing method according to the invention. Alternatively the functionality of the application 106 can be accessed as a web page via a browser on the user devices 102, 104. This alternative embodiment eliminates the need for a purpose built application 106 to be installed on the user devices while providing the same functionality to the users.

[0045] Regarding the security aspects of the real estate closing tool 202, the secured and completely internal environment provided by the real estate closing tool 202 can significantly reduce the over $5 billion stolen every year in real estate closing transactions. More specifically, encryption can be used to secure communications and documents that are sent between one or more parties of the real estate closing process. For example, rolling encryption/decryption can be used to allow an intended party to access a legal document and/or read a secured message without a malicious third party being able to coordinate a replay attack. Additionally, the encryption can be targeted such that only the intended recipients, even within the parties of the real estate closing process, can access particular messages and/or documents at certain times. For example, during the real estate closing process there are some documents that cannot legally be accessed by certain parties of the real estate closing process, and the encryption of any communication and/or documents between any one or more parties can be configured to only be decrypted by the intended recipient(s) for example at certain times during the process. Additionally the level of encryption could change depending on the sensitivity of the document or based on a certain time during the process. This enables the servers applying the process to save resources as the amount of computing power could be reduced in encrypting/decrypting by only heavily encrypting sensitive documents when they are most likely to be attacked. This additional security measure complements each party in the real estate closing process having access to predetermined portions of the real estate closing tool 202 based on their specific role in the real estate closing process. In other words, each party in the real estate closing process can only access components of the real estate closing tool 202 that are relevant to their involvement in the real estate closing process.

[0046] Fig. 2 illustrates an exemplary screen display of a Dashboard 200 of showing a Form Client Welcome Letter 215 (herein Letter 215) generated by the server 110 according to one or more aspects of the disclosed subject matter. The Dashboard 200 can be part of a real estate closing tool 202 implemented as described in Fig. 1. The Dashboard 200 can be displayed on the user devices 102, 104, for example. The Letter 215 can include hyperlinks 245 to various pages of a navigation panel 205, hyperlinks to the assigned paralegal, and a starting point of the closing process. The navigation panel 205 can be configured to navigate to various pages of the user application 106, and the navigation panel 205 can include links to the Dashboard 200, Buyer (or seller) Questionnaire, Network, Your Documents, Preferred Vendors, FAQ's, secure messages, wire transfer instructions and Resources. It should be appreciated that the navigation panel 205 is exemplary and the order, number, and reference words can be changed according to a preferred navigation panel 205. For example, the navigation panel 205 could also include Tasks, Admin, Agency Portal, Secure Messages, and the like. Also included on the Dashboard 200 may be the tasks, secure messages and notes boxes that provide the user with further information about the transaction or messages they have received.

[0047] Additionally, steps in the closing process are displayed in a progress bar 210. The progress bar 210 can be a horizontal line with icons corresponding to a predetermined milestone in the real estate closing process. When a milestone is complete, the corresponding icon can change to indicate that the milestone has been completed. For example, a check mark might represent a completed step or a step in process, and the predetermined icon might represent a step not yet started and/or finished. Additionally, the progress bar 210 can be customizable by the title company. Because not all title companies have exactly the same process and/or order of steps, the title company using the real estate closing tool 202 can customize the progress bar with their own milestones, the number of milestones, and the order of the milestones.

[0048] The Dashboard 200 can also include a closing status circle 225. The closing status circle 225 can indicate a percentage of completed tasks in the real estate closing process in a predetermined color (e.g., green) and a percentage of incomplete tasks in the real estate closing process in a different predetermined color (e.g., red).

[0049] Additionally, the Dashboard 200 can include a dynamic calendar 230. The calendar 230 can be used to keep track of steps and/or milestones throughout the real estate closing process that need to be completed by a predetermined date. The calendar 230 can be configured to display the closing date in a predetermined color. The calendar 230 can be configured to display any date corresponding to a step and/or milestone of the real estate closing process in a predetermined color, and the predetermined color can be different than the color used to indicate the closing date, for example. A count down 220 can also be included in the Dashboard 200 to indicate how many days are left until the closing date. The countdown 220 can be used as a snapshot of how much time is left to complete the remaining milestones. In one embodiment, the count down 220 can change color as the closing date gets closer. For example, the color change can be gradual using a gradient color scheme.

[0050] The Dashboard 200 can also include a photo 250 of the property of the real estate closing process. This photo can be generated automatically by the server 110 when the server 110 requests the photo from a third party website (e.g., Zillow).

[0051] It should be appreciated that various components of the Dashboard 200 can be displayed on other pages of the real estate closing tool 202. For example, other pages of the real estate closing tool described herein can include the count down 220. [0052] Fig. 3 illustrates an exemplary screen display of a Seller/Buyer Information Page 300 of the real estate closing tool 202 according to one or more aspects of the disclosed subject matter. A significant hurdle of the real estate closing process can be getting all of the information from the buyer and seller in a timely and secure manner as person information such as SSN number and like are included in relevant documents. The real estate closing tool 202, via the buyer and seller information pages, provides the buyers and sellers with a questionnaire to capture that information quickly and securely instead of faxing or scanning documents. The Seller/Buyer Information Page 300 lists typical information to be provided by the seller of the real estate (e.g., property address, homeowner association information, loan information, citizenship information, and the like). It should be appreciated that the real estate closing tool 202 can also include a Buyer Information Page with similar questions relevant to the buyer of the real estate (e.g., if the property will be purchase under buyer's name or legal entity, contact information, loan information, survey information, and the like). Information submitted by the buyer and the seller will be verified and standardized (spelling, format of names, etc.) so that the closing documents to be automatically generated will be consistent. Before submitting the buyer or seller information page, each party whether it is the seller or buyer and/or their agents will agree to an effective date of the contract. This is important to ensure that the same date of the contract is agreed upon by all of the parties of the transaction. This effective date of the contract is then imported into the dynamic calendar 230.

[0053] Fig. 4 illustrates a screen display of a Secure Messaging page 400 of the real estate closing tool 202 according to one or more aspects of the disclosed subject matter. The Secure Messaging page 400 displays all of the messages and/or emails associated with a particular real estate transaction using a designated email address. A secured communication channel can be used for the transmission of confidential information and documents. The secure messaging page 400 enables the buyers to communicate with the buyer's agent or the closing agent (who represents the title company). Similarly the secure messaging page 400 enables the sellers to communicate with the seller's agent or the closing agent. In one embodiment, the sellers cannot communicate with the buyer's agent or the buyers and the buyers cannot communicate with the seller's agent or the seller. However, in alternative embodiments such as when the portal is used, for example, in for-sale-by-owner situations, the buyer may be able to communicate directly with the seller or alternatively the seller may be able to communicate only with the buyer's agent and vice versa. In another alternative embodiment, the seller and the buyer can communicate with each other directly. This can be used in all the situations noted herein such as for real-estate or for other transactions such as property or vehicle sales.

[0054] Additionally, a chat feature allows the buyer and seller to communicate with personnel assigned to the real estate transaction. In other words, anytime that private information needs to be shared, users can send secure messages completely internally through the site between any parties, which is more secure than sending email. The communications can be encrypted as further described herein. Similarly to the secure messaging, the live chat feature can be used for the closing agent to communicate with all parties or it can be used for certain parties to communicate with each other while not permitting communication between other parties. For instance, the buyer could communicate via live chat with the closing agent and the buyer's agent but not the seller or the seller's agent. The same limitations and abilities noted above for the secure messaging can be applied to live chat. Alternatively, in other situations the limitations on live chat and secure messaging could be different.

[0055] Fig. 5 illustrates a screen display of a Documents page 500 of the real estate closing tool 202 according to one or more aspects of the disclosed subject matter. The Documents page 500 can include all of the stored transaction documents associated with the real estate transaction. A secured document library is created for both the buyer and seller where documents are uploaded instead of being emailed back and forth. As a result, the documents are retrievable by the buyer and other designated parties. Not only is this more secure, it makes it easier for all parties to keep track of all documents and records. Additionally, documents can be stored in accordance with state document retention policies. Furthermore, the secure documents could be stored for a certain timeframe such as 30 days after the closing for free and can be accessed indefinitely by the buyer or seller for a fee.

[0056] In addition, documents can be generated automatically from the buyer's or seller's questionnaire and be automatically imported into the documents folder. In addition the information from the questionnaires can be used to automatically populate the closing documents. For instance, a document noting the agreement to the effective date of the contract could be generated and imported into the documents folder. Furthermore, electronically signed documents or contracts used in an electronic closing or the like could be incorporated into the documents folder. For example, any type of closing document can be saved or imported into the documents folder or other parts of the system. It could be incorporated as a separate tab with its own processes. Furthermore, a confidential folder can be included that includes documents that cannot be viewed by certain parties such as the buyer' s/seller's agent or the like.

[0057] Electronic notary and the like could also be applied and utilized in the system.

[0058] Fig. 6 illustrates a screen display of a Network page 600 of the real estate closing tool 202 according to one or more aspects of the disclosed subject matter. The Network page 600 identifies persons and companies associated with the real estate transaction. The Network page 600 helps in making the transaction a more personalized experience. For any party in the transaction, they can create a profile that is included on this page. Their profile includes a picture, bio, contact information, social media links, and the like. Additionally, each person and/or company's contact information can be downloaded to a user's personal device (e.g., smart phone, laptop, etc.) with one click.

[0059] Fig. 7 illustrates a screen display of a Preferred Vendors page 700 of the real estate closing tool 202 according to one or more aspects of the disclosed subject matter. In one embodiment, the Preferred Vendors page 700 can correspond to the service providers 118. The service providers can also be organized by the type of service provided. In other words, the Preferred Vendors 700 page allows the closing agency to provide recommendations of local professionals (e.g., lawn care, painters, remolding contractors, plumbers, etc.) to help their customers during or after closing. Additionally, the Preferred Vendors page 700 can include contact hyperlinks. The preferred vendors and services can be ordered automatically from link or button in this section. For example, the buyer could schedule or order a painter or other service from this page.

[0060] Fig. 8 illustrates a screen display of a Frequently Asked Questions (FAQ) page 800 of the real estate closing tool 202 according to one or more aspects of the disclosed subject matter. The FAQ page 800 is an information source for the buyer and seller to be better prepared for the real estate closing process, and it saves time for the closing agents by not having to answer the same questions all the time. Additionally, the FAQ page 800 can be customized by the title company using the real estate closing tool 202.

[0061] Fig. 9 illustrates a screen display of a Resources page 900 of the real estate closing tool 202 according to one or more aspects of the disclosed subject matter. The Resource page 900 lists information sources (e.g., USPS - Change of Address, Broadband map, third party websites, etc.) with associated hyperlinks for buyers and sellers in the real estate closing process.

[0062] Fig. 10 illustrates a screen display of a Task Management page 1000 of the real estate closing tool 202 according to one or more aspects of the disclosed subject matter. Real estate closings involve many steps, so the Task Management page 1000 gives closing agents an easy way to manage tasks. The closing agent, via the Task Management page 1000, can assign tasks to anyone, and the assigned party will receive a notification of the new task. Additionally, when tasks are completed, everyone involved in the real estate closing process can be notified. Alternatively, or additionally, one or more parties involved in the real estate closing process can be automatically be notified that the task is complete. In one

embodiment, the notifications, or alerts, can be triggered automatically (e.g., when a task is complete). Additionally, alerts can be triggered automatically for various important deadlines (e.g., due dates for documents/information, due dates for money, etc.). It should be appreciated that users can choose to receive alerts via email, text message, or both. In an alternative embodiment, buyer or seller agents can create tasks or assign tasks to sellers or buyers.

[0063] Fig. 11 illustrates a screen display of an Administration page 1100 of the real estate closing tool 202 according to one or more aspects of the disclosed subject matter. The closing agent can control the entire site from the Administration page 1100. Here the closing agent can grant access to users, reset passwords or remove access, control what content is included on the various pages (network, FAQ, preferred vendors, and resources), and the like. Additionally, the closing agent can modify the buyer and seller questionnaires and send satisfaction surveys once the closing is complete.

[0064] The presently described system can be used for real estate sales but also other property sales such as, for example, for automobiles, motorcycles, boats, RVs, ATVs, bikes or other vehicles or property or anything can be sold. The system can be used in addition but not limited to for commercial real estate or for mergers and acquisitions. The same system will apply to each of these types of sales. Furthermore, the system can be used for consumer to consumer, consumer to business, business to business transactions. The system can also apply smart contracts or other forms of sales negotiation to ensure that the closing is seamless. In addition, blockchain technology or other sales negotiation can be used in the process.

[0065] As is shown in Figure 1 IB, another tab that can be provided is the wire instructions 1150 that can be provided to the buyer to let the buyer know where the money should be wired. By including this information within the secure portal, it can be ensured that this confidential information that is often subject to hacking and phishing attacks is protected. The wire instructions tab can also be applied to information sent to the seller, buyer or their agents as well.

[0066] As is noted above, the user devices 102, 104 of Figure 1 can be mobile devices such as phones, tablets, laptops, watches, desktop computers, servers, etc. Furthermore, the system can send various notifications to the user devices such as, for example, reminders when tasks are due, notifications when a secure message is received, and notifications when certain milestones have been completed, etc.

[0067] Fig. 12 is an algorithmic flow chart of a method for generating a unique transaction site to process real estate closings according to one or more aspects of the disclosed subject matter.

[0068] In S1205, house sale information can be received. The house sale information can include general information acquired by a real estate agent when selling a house (and/or property) including buyer and seller names, address of the house, execution date, and the like.

[0069] In S1210, a unique transaction site for the real estate closing process is automatically provisioned based on the received house sale information. The unique transaction site can correspond to the real estate closing tool 202 displayed in Figs. 2-11. In addition, a unique identifier can be created that is used throughout the process. This identifier can be used again later if the property is sold again. [0070] In S1215, an image of the purchased house can be requested from a third party (e.g., Zillow). The requested image can correspond to photo 250 displayed on the Dashboard 200.

[0071] In S1220, a welcome letter for the buyer is automatically generated based on the house sale information. The welcome letter can correspond to Letter 215 displayed on the Dashboard 200.

[0072] In S1225, customization information for the transaction site can be received. For example, the title company can customize various aesthetic and/or functional aspects of the real estate closing tool 202. Title companies may display the milestones in a different order or have more or less milestones compared to other title companies. Accordingly, the real estate closing tool 202 can be customized based on the title company's real estate closing process.

[0073] In S1230, the transaction site can be published including the received customizations. After the transaction site is published, the process can end.

[0074] Fig. 13 is an algorithmic flow chart of a method for processing real estate closings according to one or more aspects of the disclosed subject matter.

[0075] In S1305, buyer information can be received from a buyer information page. The buyer information page can correspond to a buyer questionnaire that collects buyer information relevant to the real estate closing process (e.g., if the property will be purchase under buyer's name or legal entity, contact information, loan information, survey information, and the like).

[0076] In S1310, seller information can be received from the seller information page (e.g., Seller Information Page 300). The Seller Information Page 300 can be configured to collect seller information relevant to the real estate closing process (e.g., property address, homeowner association information, loan information, citizenship information, and the like). [0077] In S1315, real estate closing forms are automatically generated based on the information collected from the buyer information page and the seller information page. The real estate closing forms can correspond to any legal documents that need to be filled out and signed by specific parties to complete the real estate closing process.

[0078] In SI 320, invoices can be automatically generated and sent to the appropriate party.

[0079] In SI 325, task assignments can be received. The task assignments can be tasks that the title company assigns to various parties in the real estate closing process (e.g., the title company can assign a task of signing the real estate closing forms to the buyer).

[0080] In S1330, an alert corresponding to the task assignment is automatically sent to the party that the task was assigned to, which can alert the party to take action as much of the real estate closing process is time sensitive.

[0081] In S1335, it can be determined if the real estate closing process is complete. If it is determined that the real estate closing process is not complete (e.g., forms still need to be signed, money still needs to be exchanged, etc.), then alerts can continue to be transmitted in SI 330 to remind the appropriate party that action needs to be taken to complete the real estate closing process. However, if it is determined that the real estate closing process is complete (e.g., all the forms are signed, invoices have been paid, etc.), the process can end.

[0082] Fig. 14 is an algorithmic flow chart of a method for updating the Dashboard 200 according to one or more aspects of the disclosed subject matter.

[0083] In S1405, a calendar can be displayed based on transaction site customization information (e.g., customization information received in S1225). The calendar can correspond to the calendar 230 displayed on the Dashboard 200. The calendar 230 can be displayed based on the customization information to highlight various due dates for milestones, as well as highlighting the closing date. [0084] In S1410, a progress bar can be displayed based on the transaction site customization information (e.g., customization information received in S1225). The progress bar can correspond to the progress bar 210 displayed on the Dashboard 200. The progress bar 210 can be displayed based on the customization information to include milestones, and the order of those milestones, specific to the title company's real estate closing process.

[0085] In S1415, it can be determined if a milestone has been completed. If it is determined that the milestone has not been completed, the calendar and the progress bar can continue to be displayed in S1405 and S1410. However, if it is determined that the milestone has been completed, the progress bar can be updated in S1420.

[0086] In S1420, the progress bar can be updated based on the completed milestone. For example, the completed milestone in the progress bar 210 can be replaced with a green check mark indicating that the milestone has been completed.

[0087] In S1425, an alert can be transmitted in response to the milestone being completed. For example, the alert may be transmitted to one or more predetermined parties to indicate that a specific milestone has been completed. The alert may further indicate that new steps need to be started and/or simply keeping all parties in the real estate closing process up to date on the progress of the real estate closing process. After the alert is transmitted in response to the milestone being completed, the process can end.

[0088] Fig. 15 is an algorithmic flow chart of a method for transmitting secure communications in the real estate closing tool 202 according to one or more aspects of the disclosed subject matter.

[0089] In SI 505, intended recipient information for a communication can be received. The communication can include secure messages (e.g., via Secure Messaging page 400), documents (e.g., real estate closing forms generated in S1315), money wire, and the like. The intended recipient can be a party of the real estate transaction process who should or needs to receive the secure message and/or document(s). Additionally, the intended recipient information can be used to determine who of the parties in the real estate closing process can decrypt the communication. For example, if the communication is a sensitive legal document intended only for a specific recipient, then the communication may be encrypted such that only the intended recipient can decrypt the communication.

[0090] In SI 510, a sensitivity level of the communication can be received. The sensitivity level can be based on how secure the communication needs to be. For example, if the message is simply "When is the closing date?" the sensitivity level may be less than a predetermined amount, wherein a sensitivity level greater than the predetermined amount corresponds to requiring a higher level of security (e.g., encryption). However, if the communication is a legal document containing sensitive information (e.g., social security numbers, bank information, economic status, etc.), then the communication may have a higher (or the highest) sensitivity level, which may be greater than the predetermined amount. Accordingly, the more sensitive communication could have increased security, which can correspond to a higher level of encryption, which can correspond to more server resources used to encrypt the communication.

[0091] In S 1515, an intended transmit time for the communication can be received. For example, the servers applying the encryption/decryption can save resources by only heavily encrypting documents when they are most likely to be attacked. Accordingly, the transmit time of the communication can be taken into account when encrypting the communication.

[0092] In SI 520, the communication can be encrypted based on one or more of the intended recipient in SI 505, sensitivity level in S1510, and intended transmit time in S1515 of the communication. In other words, the information received in SI 505, SI 510, and S1515 can be used to determine the level of encryption required for a predetermined level of security. For example, the sensitivity level will be high if the communication is a legal document that includes sensitive personal information, the intended recipient will be the only party in the real estate closing process that can decrypt the communication, and even more additional resources of the server can be used to further encrypt the communication if the communication is being sent at a high risk transmit time. It should be appreciated that various combinations of intended recipient, sensitivity level, and transmit time can affect the level of encryption accordingly. Accordingly, the server (e.g., server 110) can save resources by only heavily encrypting communications that require a higher level of security based on one or more of the intended recipient, sensitivity level, and transmit time.

[0093] In SI 525, the encrypted communication can be transmitted to the intended recipient. After the encrypted communication is transmitted, the process can end.

[0094] In the above description of Fig. 12, 13, 14, and 15 any processes, descriptions or blocks in flowcharts can be understood as representing modules, segments, or portions of code which include one or more executable instructions for implementing specific logical functions or steps in the process, and alternate implementations are included within the scope of the exemplary embodiments of the present advancements in which functions can be combined and/or executed out of order from that shown or discussed, including substantially concurrently or in reverse order, depending upon the functionality involved, as would be understood by those skilled in the art. The various elements, features, and processes described herein may be used independently of one another, or may be combined in various ways. All possible combinations and sub-combinations are intended to fall within the scope of this disclosure.

[0095] Next, a hardware description of the server 110 according to exemplary embodiments is described with reference to Fig. 16. The hardware description described herein can also be a hardware description of the processing circuitry. In Fig. 16, the server 110 includes a CPU 1600 which performs one or more of the processes described above elow. The process data and instructions may be stored in memory 1602. These processes and instructions may also be stored on a storage medium disk 1604 such as a hard drive (HDD) or portable storage medium or may be stored remotely. Further, the claimed advancements are not limited by the form of the computer-readable media on which the instructions of the inventive process are stored. For example, the instructions may be stored on CDs, DVDs, in FLASH memory, RAM, ROM, PROM, EPROM, EEPROM, hard disk or any other information processing device with which the server 110 communicates, such as a server or computer.

[0096] Further, the claimed advancements may be provided as a utility application, background daemon, or component of an operating system, or combination thereof, executing in conjunction with CPU 1600 and an operating system such as Microsoft Windows, UNIX, Solaris, LINUX, Apple MAC-OS and other systems known to those skilled in the art.

[0097] The hardware elements in order to achieve the server 110 may be realized by various circuitry elements. Further, each of the functions of the above described embodiments may be implemented by circuitry, which includes one or more processing circuits. A processing circuit includes a particularly programmed processor, for example, processor (CPU) 1600, as shown in Fig. 16. A processing circuit also includes devices such as an application specific integrated circuit (ASIC) and conventional circuit components arranged to perform the recited functions.

[0098] In Fig. 16, the server 110 includes a CPU 1600 which performs the processes described above. The server 110 may be a general-purpose computer or a particular, special- purpose machine. In one embodiment, the server 110 becomes a particular, special -purpose machine when the processor 1600 is programmed to implement a method of managing real estate closings (and in particular, any of the processes discussed with reference to Figs. 12, 13, 14, and 15). [0099] Alternatively, or additionally, the CPU 1600 may be implemented on an FPGA, ASIC, PLD or using discrete logic circuits, as one of ordinary skill in the art would recognize. Further, CPU 1600 may be implemented as multiple processors cooperatively working in parallel to perform the instructions of the inventive processes described above.

[00100] The server 110 in Fig. 16 also includes a network controller 1606, such as an Intel Ethernet PRO network interface card from Intel Corporation of America, for interfacing with network 108. As can be appreciated, the network 108 can be a public network, such as the Internet, or a private network such as an LAN or WAN network, or any combination thereof and can also include PSTN or ISDN sub-networks. The network 108 can also be wired, such as an Ethernet network, or can be wireless such as a cellular network including EDGE, 3G and 4G wireless cellular systems. The wireless network can also be Wi-Fi, Bluetooth, or any other wireless form of communication that is known.

[00101] The server 110 further includes a display controller 1608, such as a graphics card or graphics adaptor for interfacing with display 1610, such as a monitor. A general purpose I/O interface 1612 interfaces with a keyboard and/or mouse 1614 as well as a touch screen panel 1616 on or separate from display 1610. General purpose I/O interface also connects to a variety of peripherals 1618 including printers and scanners.

[00102] A sound controller 1620 is also provided in the server 110 to interface with speakers/microphone 1622 thereby providing sounds and/or music.

[00103] The general purpose storage controller 1624 connects the storage medium disk 1604 with communication bus 1626, which may be an ISA, EISA, VESA, PCI, or similar, for interconnecting all of the components of the server 110. A description of the general features and functionality of the display 1610, keyboard and/or mouse 1614, as well as the display controller 1608, storage controller 1624, network controller 1606, sound controller 1620, and general purpose I/O interface 1612 is omitted herein for brevity as these features are known. [00104] The exemplary circuit elements described in the context of the present disclosure may be replaced with other elements and structured differently than the examples provided herein. Moreover, circuitry configured to perform features described herein may be implemented in multiple circuit units (e.g., chips), or the features may be combined in circuitry on a single chipset.

[00105] The functions and features described herein may also be executed by various distributed components of a system. For example, one or more processors may execute these system functions, wherein the processors are distributed across multiple components communicating in a network. The distributed components may include one or more client and server machines, which may share processing, in addition to various human interface and communication devices (e.g., display monitors, smart phones, tablets, personal digital assistants (PDAs)). The network may be a private network, such as a LAN or WAN, or may be a public network, such as the Internet. Input to the system may be received via direct user input and received remotely either in real-time or as a batch process. Additionally, some implementations may be performed on modules or hardware not identical to those described. Accordingly, other implementations are within the scope that may be claimed.

[00106] As is described above, when a new transaction is presented to the title company a new transaction number is generated and a new transaction space is also correspondingly generated which can be accessed from multiple perspectives. For instance, from the buyer's side, the seller's side, the buyer's agent side, the seller's agent side and from the closing agent side all have access to the transaction and the portal space created for the transaction but from different sides with different access abilities. The representative of the title company is overseeing the transaction and thus has the greatest access and can create the new transaction when a new transaction is requested. [00107] Figures 17A and 17B show an example of the new transaction page of the title company portal. This page includes spaces for a number of different elements of information relating to the transaction such as file number (if it has already been generated otherwise this is when the new number is generated), purchase price, property address, property city, State, Zip, closing date, effective date, seller name, seller agent, referral source, additional details, closing agent, second closing agent, transaction status, property photo. As is shown in Figure 17B, the page also enables the automatic ordering in 1700 of title insurance orders, municipal lien search orders and new survey orders with the information included on the page. Some or all of this information could be generated automatically if a new request is received to the title company electronically.

[00108] Figures 18A, 18 B and 18C illustrate the title company's home portal. This page lists the open and closed transactions that a title company many have. For example, element 1801 the open transactions will list the primary closing agent and any transactions they have open. The total amount of transactions can be summed for different times or agents, etc. Similarly, element 1802 will list any closed transactions and the corresponding closing agent. Each of these elements can be sorted and organized as needed. The upcoming tasks section 1803 can include all of the upcoming tasks within a certain date range for the title company.

[00109] Figure 18B illustrates a chart that can be used by the title company to determine the progress of transactions. The larger the size of the transaction, the larger the circle. If the circle is in the red area this indicates a transaction that is in the danger zone. The system could also trigger an alert if the transaction is in the danger zone of not being completed on time by the closing date.

[00110] Figure 18C is a chart that shows a history of completed transactions and the number of transactions versus the dollar amount. [00111] It should be noted that the title company's home portal could be applied to a real estate company or agent or agents as well. In this case, all of the open and closed transactions for the company could be included irrespective of which title company was used in the transaction. This would allow the real estate company to keep track of all their upcoming tasks or transactions. This could also be applied to any company or person that performs multiple transactions such as M/A or vehicle sales, etc.

[00112] Figure 19 illustrates the referral source tab for the title company view. This tab illustrates the various people or companies that have referred transactions to the title company. Each referrer can be assigned a category tab and the information therein can be summed or sorted.

[00113] Figure 20 illustrates the transaction info tab 2000 that provides the user of the title company portal with the ability to make global changes to default versions of the template, FAQ, Network of providers, preferred vendors, resources, welcome letters, buyer agreement, seller agreement or wire instructions. These are elements which are accessible by the buyer and sellers etc. in their versions of the portal.

[00114] The closing agent also has a view for a transaction in addition to the seller, buyer, and agent views. This portal for the closing agent has a dashboard and provides the closing with the ability to make changes to the specific to the transaction as well as see information and message or chat with the parties.

[00115] Figure 21 illustrates where the closing agent can see the welcome letters for each of the buyer, seller, buyer's agent, and seller's agent.

[00116] Figure 22 illustrates where the closing agent can see all the tasks that are assigned to each of the various parties such as closing agent, buyer, seller, buyer's agent and seller's agent. Also available is a view of a list of milestones. [00117] Figure 23 illustrates the closing agent links to the various buyer and seller documents and questionnaire as well as access to the wire instructions.

[00118] Figure 24 illustrates the closing agent portal for secure messaging. As is noted above the closing agent can communicate with all parties.

[00119] Figure 25 where the closing agent can create new tasks or edit tasks for the transaction.

[00120] Figure 26 illustrates the site administration tab for the specific transaction. As the caretaker for the transaction the closing agent has the ability to change specific elements of the transaction to make them different from the global settings that was described with regard to Figure 20. In addition, element 2600 notes that this portion of the portal allows the closing agent to send a survey to each of the parties obtaining important feedback for the closing agent and the title company about the process.

[00121] Having now described embodiments of the disclosed subject matter, it should be apparent to those skilled in the art that the foregoing is merely illustrative and not limiting, having been presented by way of example only. Thus, although particular configurations have been discussed herein, other configurations can also be employed. Numerous modifications and other embodiments (e.g., combinations, rearrangements, etc.) are enabled by the present disclosure and are within the scope of one of ordinary skill in the art and are contemplated as falling within the scope of the disclosed subject matter and any equivalents thereto. Features of the disclosed embodiments can be combined, rearranged, omitted, etc., within the scope of the invention to produce additional embodiments. Furthermore, certain features may sometimes be used to advantage without a corresponding use of other features. Accordingly, Applicant(s) intend(s) to embrace all such alternatives, modifications, equivalents, and variations that are within the spirit and scope of the disclosed subject matter.