text:
A method for loan origination, processing and closing, using a network based system including a server system coupled to a centralized database and at least one client system is disclosed. The method includes establishing a business relationship pertaining to a loan transaction between a broker and a lender, defining a division of labor, providing forms and informational notices to the broker, and maintaining the task list to ensure that the broker has complied with state and federal regulations. Other embodiments of the invention utilize a System, a Computer Program embodied on a computer readable medium, a Computer, and a Database to manage the loan processing and improve operational efficiency of the business entity.
1. A method for loan origination, processing and approval, using a network based system including a server system coupled to a centralized database and at least one client system, said method comprising:
establishing a business relationship pertaining to a loan transaction between a broker and a lender through legal agreements;
defining a division of labor through a task list between the broker and the lender to assist in the performance of the legal agreements;
providing forms and informational notices in support of the task list; and
maintaining the task list to ensure that the broker has complied with the task list.
2. A method according to
3. A method according to
a) Reviewing buyer's financial goals,
b) Reviewing buyer's assets,
c) Reviewing available loan program,
d) Reviewing tax returns, pay statements, credit review,
e) Taking information from borrower and completing borrower worksheet online,
f) Selecting an appropriate loan program,
g) Collecting Documentation,
h) Photocopying original documents,
i) Sending documentation copy to processing department,
j) Opening escrow,
k) Completing escrow opening instruction form,
l) Ordering tile report,
m) Completing order form,
n) Faxing to escrow the order form with statement of information and insurance information,
o) Completing appraisal order form,
p) Scheduling and meeting the appraiser for an inspection,
q) Maintaining contact with borrower, realtors, and lender, between application and closing to apprise them of the status of the application and to gather additional information, as needed,
r) Locking the rate with the client,,
s) Preparing rate lock action sheet processor,
t) Arranging time for document signing, and
u) Attending loan closing.
4. A method according to
5. A method according to
accessing the centralized database;
searching the database regarding a specific inquiry;
retrieving information from the database; and
transmitting the retrieved information to the client system for display by the client system.
6. A method according to
7. A method according to
8. A method according to
9. A method according to
processing the loan transaction in compliance with state and federal regulations;
approving the loan transaction;
funding the loan transaction; and
issuing a commission check to the broker pursuant to the legal agreements after the loan transaction has been funded.
10. A method according to
11. The method according to
12. A method for loan origination, processing and closing, using a network based system including a server system coupled to a centralized database and at least one client system, said method comprising:
originating a loan application by a licensed individual;
processing the loan application by a lender through a task list that defines a division of labor between the licensed individual and the lender,
maintaining the task list to ensure that the broker and the lender have complied with their responsibilities; and
closing the loan application in compliance with state and federal regulations.
13. A system for managing loan transaction in compliance with federal and state regulations, said system comprising:
a client system comprising a browser;
a data storage for storing information;
at least one server system configured to be coupled via a network to said client system and said data storage device, said server system further configured to:
develop and track a task list to implement a division of labor between a broker and a lender relating to activities resulting in funding of a loan for a real property transaction;
provide an indication to a party responsible for the task on the task list;
process an approval of the loan after all tasks on the task list are completed and regulatory requirements are satisfied; and
issue a commission check to the broker upon funding of the loan and closing of the real property transaction.
14. A system according to
a displaying component for displaying a variety of options to a user; and
a sending component to send an inquiry to the server system so that the server system can process and download the requested information to the client system.
15. A system according to
16. A system according to
17. A system according to
18. A system according to
19. A computer to facilitate online origination, processing and approval of loans, said computer coupled to a centralized database and programmed to:
receive loan transaction information in to the centralized database;
store the loan transaction information into various subsections of the centralized database and cross reference the loan transaction information against a borrower identification for easy retrieval and update;
evaluate the loan transaction based on pre-determined criteria; and
generate management reports to track the loan transaction.
20. The computer according to
21. The computer according to
22. A computer program embodied on a computer readable medium for processing and approving real estate loans, comprising a code segment providing for:
registering a broker with a lender to process a loan transaction;
providing a list of tasks and targeted completion dates to the broker based on an anticipated closing date of the loan transaction;
tracking the list against the targeted completion dates to complete the task;
generating loan documents after the loan transaction has been approved; and
generates a commission check to the broker after the loan documents are executed and the loan transaction is closed.
23. The computer program as recited in
24. The computer program as recited in
25. The computer program as recited in
26. The computer program as recited in
27. A database to manage loan processing and improve operational efficiency of a business entity, said database comprising:
data corresponding to various transactions with at least one of transactions status data and action lists data associated with various transactions;
data corresponding to various mortgage programs with at least one of associated referenced numbers, a starting rate and an ending rate, a margin, client points, and maximum loan to value ratio; and
data corresponding to contact information regarding parties to various transactions, the data corresponding to contact information cross referenced against data corresponding to various mortgage programs and data corresponding to various transactions for at least one of easy retrieval, update and storage.
28. A database according to
29. A database according to
30. A database according to
31. A database according to
32. A database according to
[0001] A portion of the disclosure of this patent document contains material that is subject to copyright protection. The copyright owner has no objection to the facsimile reproduction by anyone of the patent document or the patent disclosure, as it appears in the Patent and Trademark Office patent file or records, but otherwise reserves all copyright rights whatsoever.
[0002] This invention relates generally to loan origination, processing and approval and more particularly to processing real estate loans using a division of labor between brokers and lenders.
[0003] A large number of real estate loans are processed by lenders or lenders' agents. These loans are processed either by traditional banks or mortgage bankers/brokers all specializing in processing loans in compliance with various state and federal regulations. Once the loan is processed, the loan is funded and the transaction is closed.
[0004] Often, a real estate transaction is consummated between a buyer and a seller utilizing a broker or a broker's agent, or an attorney. The real estate transaction normally involves various parties, including, but not limited to, a buyer, a seller, a real estate broker, an escrow officer, a lender and a lender's agent (also known as a loan agent). An important aspect of the real estate transaction relates to applying and obtaining a suitable real estate loan from a lender at a favorable rate.
[0005] Once a purchase agreement or a contract is signed between the buyer and the seller, the buyer obtains for a loan based on the buyer's credit, income and the value of the property. Various steps are undertaken by the buyer in obtaining the loan. The loan agent of the lender helps the buyer in filling out the loan application and identifying a list of documents needed by the lender to process the loan. Once the documents are submitted by the buyer through a loan agent, the lender evaluates the buyer's creditworthiness by running a credit report as well as verifying other financial information. The lender also obtains an appraisal report on the property that is purchased by the buyer to ensure that there is a sufficient collateral value in the property. Once the loan is approved, the loan is funded and the transaction is closed.
[0006] Often, the loan agent enters the transaction after the purchase agreement has been executed between the buyer and the seller. The loan agent helps the buyer to complete the loan application and processes the same with the lender. However, the loan agent, not being familiar with the buyer, adds complications to the transaction which often leads to the loan not closing. At times, the real estate broker, who has already earned the trust of the buyer, is in the best position to undertake loan origination and processing related activities to aid in closing the transaction. However, real estate brokers are generally not permitted to engage in such activities for compensation because of various laws, rules, and regulations associated with compensation related to funding loans for real property. Furthermore, real estate brokers lack the technical knowledge to process the loan independently, since they are primarily responsible for sales activities. In addition, there are various other disclosure issues affecting the transaction that prohibit lenders to allow real brokers participation in loan origination, processing and funding activities.
[0007] The present invention provides in some aspects, a system and method for providing for a division of labor in funding loans for real property and systems and methods for tracking the funding of such loans to allow person without prior training to originate loans. In an exemplary embodiment, the invention is an integrated network based system, which organizes a company's experiences, operating procedures, best practices, information sources, competitive information and analytical tools on a server for easy storage and retrieval. The invention is a method and a system to manage real estate loans and provide status of the real estate loans to all involved parties including, but not limited to, a mortgage broker, a real estate broker, salesperson, and escrow officer. The information provided over the web is the real time information and the newly added information is updated and processed on a continuous basis. The objective is to increase the profitability of a business entity in loan origination and processing while facilitating the ongoing loan processing operations with the help of a real estate broker who assisted the buyer to enter into the real estate transaction.
[0008] In an exemplary embodiment, the present invention provides a method for loan origination, processing and approval. The method is practiced utilizing a network based system. The method comprises establishing a business relationship pertaining to a loan transaction between a broker and a lender through legal agreements, defining a division of labor through a task list, providing forms and informational notices in support of the task list, and tracking the task list to ensure that the broker has complied with the task list. The method further ensures that the tasks are completed in order to comply with state laws and governing agencies regulations qualify for fee income. The method further provides that a Mortgage Broker Agreement and a Borrower Disclosure have been executed by the broker.
[0009] Furthermore, the method defines a division of labor by identifying the broker responsibility for various tasks. Some of the tasks defined as broker's responsibility includes, reviewing buyer's financial goals, reviewing buyer's assets, reviewing available loan programs, reviewing tax returns, income statements, credit review, taking information from borrower and completing borrower worksheet online, selecting an appropriate loan program, collecting documentation, photocopying original documents, sending documentation copy to processing department, opening escrow, completing escrow opening instruction form, ordering a title report, completing order form, faxing to escrow the order form with statement of information and insurance information if applicable, scheduling and meeting the appraiser for an inspection, maintaining contact with borrower, realtors, and lender, to apprise them of the status of the application and to gather additional information, locking the rate with the client, if necessary, preparing rate lock action sheet processing, arranging time for document signing, and attending loan closing.
[0010] In another exemplary embodiment, the invention provides a system to implement the process for managing real estate loans in compliance with state and federal regulations for the purpose of qualifying for fee income. The system includes a computer, and at least one server connected via a network to the computer. The system is configured to develop and track a task list to implement a division of labor between a broker and a lender relating to activities resulting in funding of a loan for the real property transaction, provide an indication to a party responsible for the task on the task list, process an approval of the loan after certain tasks on the task list are completed and regulatory requirements are satisfied, and issue a commission check to the broker upon funding of the loan and closing of the real property transaction.
[0011] In yet another exemplary embodiment of the invention, the invention provides a computer to facilitate online processing and approval of loans. The computer is programmed to receive loan transaction information in to a centralized database, store the loan transaction information into various subsections of the centralized database and cross reference the loan transaction information against a borrower identification for easy retrieval and update, evaluate the loan transaction based on pre-determined criteria, and generate management reports to track the loan transaction.
[0012] In yet further exemplary embodiment, the invention provides a computer program embodied on a computer readable medium. The computer program comprises a code segment that registers a broker with a lender to process a loan transaction, provides a list of tasks and targeted completion dates to the broker based on an anticipated closing date of the loan transaction, tracks the list against the targeted completion dates to complete the task, updates the task list as the tasks are completed, generates loan documents after the loan transaction has been approved, and generates a commission check to the broker after the loan documents are executed and the loan transaction is closed.
[0013] In yet another exemplary embodiment, a centralized database to organize real estate transaction loan details is disclosed. The database comprises data corresponding to various transactions, transactions status and action lists associated with various transactions, data corresponding to various mortgage programs with at least one of associated referenced numbers, a starting rate and an ending rate, margin, client points, maximum loan to value ratio and other pertinent information, and data corresponding to contact information regarding parties to various transactions. The data within the database is cross-referenced for easy retrieval, update and storage.
[0014]FIG. 1 is an exemplary embodiment of a flow chart of a Business Process between a broker and a lender;
[0015]FIG. 2 is a block diagram of a Loan Processing System (LPS);
[0016]FIG. 3 is an expanded version block diagram of an exemplary embodiment of a server architecture of the LPS;
[0017]FIG. 4 illustrates a configuration of a database within a database server of the server system shown in FIG. 2;
[0018]FIG. 5 is an exemplary embodiment of a hardware architecture diagram of a general purpose computer suitable for use as a server host;
[0019]FIG. 6 is an exemplary embodiment of a Realtor Registration Process flowchart in accordance with the present invention;
[0020]FIG. 7 is an exemplary embodiment of a flowchart depicting a Business Process Flow;
[0021]FIG. 8 is an exemplary embodiment of a home page welcoming the user to the GoLoan.com business web site;
[0022]FIG. 9 is an exemplary embodiment of a web-based screen providing the information to the user regarding a specific loan transaction;
[0023]FIG. 10 is an exemplary embodiment of report downloaded by the LPS system for a specific employee;
[0024]FIG. 11 is an exemplary embodiment of a mortgage rates report downloaded by the LPS to provide detail rate information to various brokers that are registered to use the LPS system; and
[0025]FIGS. 12 and 13 are exemplary embodiments of a Mortgage Loan Procedures & Broker Certification Report downloaded by the LPS system, which need to be completed and submitted by the broker before any commission is paid to the broker.
[0026] Exemplary embodiments of systems and processes that facilitate integrated network-based electronic reporting and workflow process management related to a Loan Processing System (LPS) are described below in detail. The systems and processes facilitate, for example, electronic submission of information using a client system, automated extraction of information, and web-based origination, processing, tracking and approval of real estate loans.
[0027] The systems and processes are not limited to the specific embodiments described herein. In addition, components of each system and each process can be practiced independent and separate from other components and processes described herein. Each component and process also can be used in combination with other components and processes.
[0028] In an exemplary embodiment, the application is implemented as a Centralized Database utilizing a Structured Query Language (SQL) with a client user interface front-end for administration and a web interface for standard user input and reports. The application is web enabled and runs on a business entity's intranet. In a further exemplary embodiment, the application is fully accessed by individuals having authorized access outside the firewall of the business entity through the Internet. In another exemplary embodiment, the application is run in a Windows NT environment or simply on a stand alone computer system. In yet another exemplary embodiment, the application is practiced through manual process steps. The application is flexible and designed to run in various different environments without compromising any major functionality.
[0029]FIG. 1 is an exemplary embodiment of a flow chart of a Business Process between a broker and a lender. The business process for loan origination, processing and approval, in one embodiment, utilizes a network based system, a centralized database and a client system. The process includes establishing 2 a business relationship pertaining to a loan transaction between a broker and a lender through legal agreements. The process further includes defining 4 a division of labor through a task list between the broker and the lender to assist in the performance of the legal agreements. The process includes maintaining 6 the task list to ensure that the broker had fulfilled his assigned responsibilities. In an exemplary embodiment, the lender maintains the task list. In yet another embodiment, the broker maintains the task list. It is also feasible that a third party may maintain the task list for the broker or the lender for a small fee. The process further includes closing 8 the loan transaction which relates to distributing loan proceeds, commissions, other payments and funds, preparing accounting of funds/closing documents, and distributing documents to appropriate parties.
[0030]FIG. 2 is a block diagram of a LPS 10 that includes a server system 12, sometimes referred to herein as server 12, and a plurality of customer devices 14 connected to server 12. LPS 10 is implemented for origination, processing and approval of various types of loans. LPS 10 utilizes several pre-defined loan decision criteria and checklists in performing the loan analysis. The loan decision criteria and checklists, and various other business tools and processes, as described below in more detail, are stored on server 12 and can be accessed by a requester at any one of customer devices 14.
[0031] In one embodiment, devices 14 are general purpose computers including a web browser, and server 12 is accessible to devices 14 via a network such as an intranet or a wide area network such as the Internet. FIG. 5 below describes the general purpose computer 14 in detail. In an alternative embodiment, devices 14 are servers for a network of customer devices. Customer device 14 could also be any client system capable of interconnecting to the Internet including a web-based digital assistant, a web-based phone or other web-based connectable equipment. In another embodiment, server 12 is configured to accept information over a telephone, for example, at least one of a voice responsive system where a user enters spoken data, or by a menu system where a user enters a data request using the touch keys of a telephone as prompted by server 12.
[0032] Devices 14 are interconnected to the network, such as a local area network (LAN) or a wide area network (WAN), through many interfaces including dial-in-connections, cable modems and high-speed lines. Server 12 includes a database server 16 connected to a centralized database 20. In one embodiment, centralized database 20 is stored on database server 16 and is accessed by potential customers at one of customer devices 14 by logging onto server system 12 through one of customer devices 14. In an alternative embodiment, centralized database 20 is stored remotely from server 12.
[0033]FIG. 3 is an expanded version block diagram of an exemplary embodiment of a server architecture of a LPS 22. LPS 22 is implemented for the complex environment. Components in LPS 22, identical to components of system 10 (shown in FIG. 2), are identified in FIG. 3 using the same reference numerals used in FIG. 2. LPS 22 includes server system 12 and customer devices 14. Server system 12 includes, but not limited to, a database server 16, an application server 24, a web server 26, a fax server 28, a directory server 30, and a mail server 32.
[0034] Servers are often dedicated, meaning that they perform no other tasks besides their server tasks. For example, application server 24 serves various applications and modules associated with the computer program applications to users and also act as a traffic officer in a database intensive application such as this. Web server 26 hosts the web site using one of the multi-platform servers. Fax server 28 sends and receives faxes with an internet server. This helps business keeping costs low and saves paper. Directory server 30 manages various directories and sub directories to organize information. Mail server 32 sets up a messaging system that allows the users to exchange e-mails over LANs and/or the Internet. In yet another embodiment, there are other servers such as an Audio/Video server to deliver streaming multi-media content, a List server to create and serve individualized mailing lists and e-mail response system for users, customer, or affiliates, and Chat servers are utilized.
[0035] A disk storage unit 34 is coupled to database server 16 and directory server 30. Servers 16, 24, 26, 28, 30, and 32 are coupled in a local area network (LAN) 36. Additionally, workstations 38, 40, and 42 are coupled to LAN 36. Alternatively, workstations 38, 40, and 42 are coupled to LAN 36 via an Internet link or are connected through an intranet. Workstations 38, 40, and 42 are used by a system administrator, a loan processing clerk and a loan approval manager, respectively.
[0036] Each workstation 38, 40, and 42 is a personal computer including a web browser. Although the functions performed at the work stations typically are illustrated as being performed at respective workstations 38, 40, and 42, such functions can be performed at one of many personal computers coupled to LAN 36. Workstations 38, 40, and 42 are illustrated as being associated with separate functions only to facilitate an understanding of the different types of functions that can be performed by individuals having access to LAN 36.
[0037] Server system 12 is configured to be communicatively coupled to various individuals or employees and to third parties, e.g., a real estate broker 46 via an ISP Internet connection 48. The communication in the exemplary embodiment is illustrated as being performed via the Internet, however, any other wide area network (WAN) type communication can be utilized in other embodiments, i.e., the systems and processes are not limited to being practiced via the Internet. In addition, and rather than a WAN 50, local area network 36 could be used in place of WAN 50.
[0038] In the exemplary embodiment, any employee or a real estate broker having a workstation 52 can access server system 12. One of customer devices 14 includes workstations 54 located at a remote location. Workstations 54 are personal computers including a web browser. Also, workstations 54 are configured to communicate with server system 12. Furthermore, fax server 28 communicates with employees and real estate brokers 46 located outside the business entity and any of the remotely located systems, via a telephone link.
[0039] The systems described in FIGS. 2 and 3 are configured to implement a methodology to process and approve loans in compliance with state and federal regulations with the aid of a real estate broker and analyze loans based on pre-determined criteria and methodology.
[0040]FIG. 4 shows a configuration of database 20 within database server 16 of server system 12 shown in FIG. 2. Database 20 is coupled to several separate components within server system 12. These separate components perform specific tasks as required to achieve the system functionality.
[0041] Server system 12 includes a collection component 64 for collecting information from users into centralized database 20, a tracking component 66 for tracking information, a displaying component 68 to display information, a receiving component 70 to receive a specific query from client system 14, and an accessing component 72 to access centralized database 20. Receiving component 70 is programmed for receiving a specific query from one of a plurality of users. Server system 12 further includes a processing component 76 for searching and processing received queries against data storage device 34 containing a variety of information collected by collection component 64. An information fulfillment component 78, located in server system 12, downloads the requested information to the plurality of users in the order in which the requests were received by receiving component 70. Information fulfillment component 78 downloads the information after the information is retrieved from data storage device 34 by a retrieving component 80. Retrieving component 80 retrieves, downloads and sends information to client system 14 based on a query received from client system 14 regarding various alternatives.
[0042] Retrieving component 80 further includes a display component 84 configured to download information to be displayed on a client system's graphical user interface and a printing component 88 configured to print information. Retrieving component 80 generates various reports requested by the user through client system 14 in a pre-determined format. System 10 is flexible to provide alternative reports and is not constrained to the options set forth above.
[0043] In an exemplary embodiment, database 20 is divided into an Action List Section (ALS) 90, a Mortgage Rates Section (MRS) 92, a Transactions Status Section (TSS) 94, a Commission Section (CS) 96, and a Contact Information Section (CIS) 98. For example ALS 90 includes action items segregated by each transaction as it relates to a specific borrower. MRS 92 includes information about various mortgage plans available with associated referenced numbers, a starting rate and an ending rate, margin, client points, maximum loan to value ratio and other pertinent information. TSS 94 includes current status of each transaction. CS 96 includes the current summary of commission by each broker or each office. CIS 98 includes information about contact information as it relates to each borrower and each transaction. Sections 90, 92, 94, 96 and 98 within database 20 are interconnected to update and retrieve the information as required. Each Section is further divided into several individualized sub-sections to store data in various different categories.
[0044]FIG. 5 is an exemplary embodiment of a hardware architecture 120 diagram of a general purpose computer suitable for use as a server host. A microprocessor 130, comprised of a Central Processing Unit (CPU) 132, a memory cache 134, and a bus interface 138, is operatively coupled via a system bus 142 to a main memory 144 and an I/O control unit 146. The I/O interface control unit is operatively coupled via I/O local bus 148 to a disk storage controller 150, a video controller 152, a keyboard controller 156, and a communications device 160. The communications device is adapted to allow software objects hosted by the general purpose computer to communicate via a network with other software objects. The disk storage controller is operatively coupled to a disk storage device 162. The video controller is operatively coupled to a video monitor 164. The keyboard controller is operatively coupled to a keyboard 166. A network controller 168 is operatively coupled to a communications device 170. The system has I/O expansion slots 172 to accommodate future upgrades.
[0045] Computer program instructions implementing loan origination, processing and approval criteria utilizing real estate broker as a primary interface to the transaction are stored on the disk storage device until the microprocessor retrieves the computer program instructions and stores them in the main memory. The microprocessor then executes the computer program instructions stored in the main memory to implement the network based loan origination, processing and approval system.
[0046] The architecture of system 10 as well as various components of system 10 are exemplary only. Other architectures are possible and can be utilized in connection with practicing the processes described below.
[0047] Loan Processing System (LPS) 10, a fully integrated on-line web-based system, is a centralized and integrated business tool created to drive business accountability and performance, and to improve closing of the loans in a timely manner. LPS 10 utilizes the Internet to increase communication. LPS 10 not only makes loan delivery more accessible but, it also makes the lending process faster, more reliable, efficient and profitable. LPS 10 reduces production costs, lowers fees to borrowers, and allows real estate brokers or appropriately licensed individuals or entities to get paid in compliance with state and federal regulations. LPS 10 is secure, exclusive and protected. Real estate broker or appropriately licensed individual or entity are sometimes referred to as �broker� herein.
[0048] The LPS is designed specifically to include the broker in the loan origination process, since broker's license allows the broker to participate in brokering loans for real estate. The business entity provides the processing know-how to offer the best available loan and, a streamlined electronic approval to benefit the broker's client while paying the broker the mortgage origination commission in full compliance with Section 8 of the Real Estate Settlement Procedure Act (RESPA).
[0049] In accordance with the present invention, the system and method for loan processing utilizing the real estate broker involves two separate types of agreements. The first type of the agreement known as a Mortgage Broker Agreement, is between the business entity and a real estate broker. The Mortgage Broker Agreement is drafted in compliance with RESPA and to clearly define the broker's responsibilities. The Mortgage Broker Agreement defines the division of the labor in loan processing between lenders-brokers or brokers-brokers to allow for RESPA compliant payments to brokers. The agreement further defines sub-areas of coverage to include various implementations of task divisions between the parties. The sub-areas of coverage further includes the use of the Internet, task lists, help files, and the upload of various documents to complete the tasks. The Mortgage Broker Agreement between the business entity and the real estate broker would include, for example, the following types of provisions:
[0050] 1. Business Relationship. Real estate broker, or appropriately licensed individual or entity (hereinafter �Broker�) shall, from time to time, submit residential mortgage loan applications to Lender (hereinafter �Lender�) and, as set forth herein, provide additional related services. Following the submission by Broker to Lender of a loan application, Lender shall inform Broker of the particular loan program applicable to such loan. Based upon the loan program that is assigned by Lender to such loan application, and after Lender performs certain additional mortgage-related services with respect to such loan, Lender may, in accordance with the terms of this Agreement, either (a) fund and close such loan in Lender's name (the �Lender-to-Broker Arrangement�) or (b) assign the loan package to a third party for funding and closing (the �Broker-to-Broker Arrangement�).
[0051]2. Broker Services. Broker agrees to perform those services related to the origination of residential mortgage loans that, from time to time, have been agreed upon and identified by the parties (the �Services�). With regard to any loan application that will be processed pursuant to a Broker-to-Broker Arrangement, Broker shall perform those specific services indicated on Exhibit A attached hereto. Broker shall deliver to Lender all documents, materials and other items (the �Loan Packages�) related to Broker's performance of the Services, in accordance with the requirements hereof and the guidelines and procedures of Lender, as such guidelines and procedures may be established from time to time by Lender. Broker shall assign all right, title and interest in and to each Loan Package to Lender. The decision to reject or to approve a loan in connection with any Loan Package shall be made by Lender (in the case of a loan processed pursuant to a Broker-to-Broker Arrangement) or by the applicable third party lender (in the case of a loan processed pursuant to a Lender-to-Broker Arrangement), and, in either case, in Lender's or such lender's sole discretion. Lender shall have no obligation or liability for any refusal by Lender or a third party lender to make a loan, or for any delay by Lender or a third party lender in underwriting or closing any loan.
[0052] 3. Fees. For performing the Services (or such additional or fewer services as may be agreed upon by the parties from time to time), Broker will be paid a fee for each Loan Package that results in a closed residential mortgage loan. The fee shall represent the fair market compensation for all Services actually performed by Broker in the marketplace in which they are provided, and shall be in the amount determined in accordance with the pricing schedule agreed between the parties (in the case of a loan processed pursuant to a Broker-to-Broker Arrangement) or the rate sheet to be provided to Broker by Lender from time to time (in the case of a loan processed pursuant to a Lender-to-Broker Arrangement). The parties understand and agree that this fee is in compensation for services actually performed by Broker. No portion of this fee is paid for the referral of any settlement service business, or is a split or percentage of any charge made or received by either party with respect to any loan. In addition, in the event that Broker performs any other services in connection with the loan or the real property that will secure such loan, this fee shall be paid only for services that are actual, necessary and distinct from the primary services provided by Broker.
[0053] 4. Representations and Warranties. Broker represents and warrants that on each date that Broker delivers a Loan Package to Lender and on the closing date of each loan: (a) Broker is duly qualified, licensed and approved to transact business and to conduct the activities contemplated by this Agreement in all states in which such qualification, licensure and approval is required; (b) this Agreement constitutes a legal, valid, binding and enforceable obligation of Broker; (c) the information contained in each Loan Package is true, accurate and complete; (d) there is no circumstance or condition with respect to the related applicant, his or her credit standing, the Loan Package or the underlying property that reasonably can be expected (i) to cause the FHA, VA or a private mortgage insurance company to regard the loan as not eligible for insurance or guaranty, (ii) to cause Fannie Mae, Freddie Mac or a private investor to regard the loan as an unacceptable investment or not eligible for resale, (iii) to cause the loan to become delinquent or (iv) to adversely affect the value or marketability of the loan; (e) Broker is the sole owner of each Loan Package free and clear of all liens and encumbrances, and has the authority to sell and assign the Loan Package on the terms set forth herein; and (f) each Loan Package was originated and all Services were performed by Broker in accordance with, and in satisfaction of, all applicable federal, state and local laws and all other requirements and guidelines of Lender (as may from time to time be prescribed) and all relevant investors, agencies and insurers.
[0054] 5. Compliance. On the date hereof and on each anniversary hereof, Broker shall deliver to Lender a copy of all of Broker's licenses and approvals that are required or appropriate in connection with the performance by Broker of the Services hereunder. Within ninety (90) days after the close of its fiscal year, Broker shall provide Lender with its audited financial statements, which statements must include a computation of Broker's adjusted net worth that has been prepared in accordance with applicable law and requirements. Broker agrees to fully cooperate with and assist Lender in obtaining any additional information and documentation that Lender deems necessary in order to further process and, as appropriate, underwrite and close any loan and to otherwise accomplish the transactions contemplated hereunder. Broker shall not represent to any applicant or other person that any loan has been approved, or will be approved and/or funded, until such time as Broker is so informed by Lender. All appraisals must accurately reflect the value of the subject property, be prepared by a licensed appraiser and listed on Lender's then-current approved appraiser roster. Broker shall obtain from each loan applicant or other person for whom home financing is or may be sought, and Broker shall cause each such person to execute, a written authorization (substantially in the form of the �Borrower's Certification & Authorization� set forth on Lender's web site) in which the applicant or such other person expressly consents to Lender obtaining his or her credit report or credit history from a credit reporting agency or other appropriate source; Broker shall maintain all such written authorizations and, upon Lender's request, make them available or deliver them to Lender.
[0055] 6. Termination. This Agreement may be terminated by either party for any reason at any time. If Lender terminates this Agreement based upon any material breach of this Agreement or of any other agreement, understanding or arrangement between Broker and Lender, then Lender shall have no obligation to further process or, in the case of a loan processed pursuant to a Lender-to-Broker Arrangement, close any loan submitted by Broker to Lender hereunder, regardless of whether a commitment has been issued prior to delivery of the notice of termination. Termination of this Agreement shall not relieve either party of any liability to the other party for any damages or other amounts due hereunder. The provisions of Sections 6, 7, 8 and 9 hereof shall survive any termination of this Agreement.
[0056] 7. Indemnification; Repurchase. Broker shall indemnify and hold Lender harmless from any damage, loss or expense (including attorneys fees and all costs of investigation, defense, settlement and appeal) (collectively, �Damages�) directly or indirectly arising from (i) the non-performance of any obligation or covenant, or the breach or inaccuracy of any representation or warranty, of the Broker hereunder, (ii) any third party claim involving the Loan Package or any of the Services (including, without limitation, claims by an applicant or third party lender), or (iii) any acts or omissions of the Broker or its employees or agents, regardless of whether such acts or omissions were willful, negligent or otherwise. In addition, in the event that Lender has received a written request to repurchase any loan with respect to which Broker performed any Services, and the basis for such repurchase request relates in whole or in part to any act or omission by Broker, then Lender shall have the right, at its election, to either (i) repurchase and then foreclose upon or re-sell the related loan or the mortgaged property, or (ii) require Broker to wire to Lender the funds necessary to repurchase the loan immediately following Broker's receipt of notice from Lender and Lender shall thereafter assign such loan to Broker; in either event, Broker shall indemnify Lender for any related Damages. Broker's obligations under this Section shall be fully applicable regardless of whether Lender has accepted the Loan Package, reviewed the Loan Package, or underwritten or closed the related loan. The parties agree that Lender shall be entitled to recovery of all Damages and that any full credit bid at a foreclosure sale shall not be used in determining Damages, nor shall any evidence of a full credit bid by Lender be admissible at any proceeding, trial, arbitration or mediation.
[0057] 8. Right of Offset. In the event that Broker owes any amount to Lender hereunder or under any other agreement, understanding or arrangement between Broker and Lender, then Lender shall have the right, without notice, to deduct any and all of such amounts from amounts that otherwise would be payable hereunder by Lender to Broker.
[0058] 9. Disclosure Requirements. With regard to each loan that is processed pursuant to a Broker-to-Broker Arrangement, Broker will provide a written disclosure (the �Borrower Disclosure�), to all mortgage loan applicants. Broker shall ensure that each such disclosure is signed by Broker and each mortgage loan applicant.
[0059] 10. Record Storage. Broker agrees to maintain and act as custodian of the Original Credit Documents (including executed Loan application, Mortgage loan disclosures, Authorization to release credit information, and other documents requested from time to time by Lender) until such time as Lender directs Broker to deliver the Original Credit Documents to Lender or to destroy such document. Broker shall provide Lender with copies of all Original Credit Documents via facsimile. Broker shall segregate and maintain custody and control of Original Credit Documents on behalf of Lender. Broker warrants that Original Credit Documents will not be altered from their original form. Broker warrants that it shall keep all information contained with Original Credit Documents confidential. Broker shall immediately deliver and relinquish custody and control to Lender of any and all Original Credit Documents upon request.
[0060] 11. Miscellaneous. Broker shall have no right, power or authority, express or implied, to (i) approve a loan application, orally or in writing, (ii) bind Lender or any other third party, without Lender's or such third party's prior written approval, to any rate quote or rate lock, or (iii) issue to prospective mortgagors any type of binding commitment to loan funds on behalf of Lender or any other third party. No Loan Package submitted by Broker hereunder shall relate to a loan that is intended to be insured by the FHA or guaranteed by the VA. This Agreement shall be governed by the laws of California (excluding its choice of laws principles). Failure to insist upon strict compliance with any of the terms, covenants or conditions hereof at any time shall not be deemed a waiver of such term, covenant or condition at any other time nor shall any waiver of any right herein at any time be deemed a waiver of the same or any other right at any other time. The parties are completely independent of one another and this Agreement shall not be construed to create any partnership, employment or other affiliation between the parties.
[0061] The second type of the agreement is between the borrower and the licensed loan officer/real estate broker (the �Borrower Disclosure�). The Borrower Disclosure is made to the borrower in full compliance with state and federal regulations. It is also a material consideration of the loan transaction. The Borrower Disclosure is made to all parties involved in the listing, purchase/sale, and financing of real property. The broker referred to in the Borrower Disclosure is a real estate broker or a licensed loan officer. The Borrower Disclosure between the borrower (hereinafter �Borrower�) and the broker/licensed loan officer (hereinafter �Broker�) would include, for example, the following provisions:
[0062] 1. Any representations made for the purpose of listing, purchase/sale or financing of real property are not made and shall not be considered made by, through or on behalf of Lender (hereinafter �Lender�), its agents, servants, or employees.
[0063] In particular, any representations made by Broker, or its agents, servants or employees on Broker's behalf and concerning the subject property are made solely as an agent of Borrower and are never made by or on behalf of Lender, its agents, servants or employees in any manner. Such representations include, but are not limited to, representations regarding: loan terms; purchase and sale of real property; quality of the property; soils; foundational or construction defects; environmental hazards; building permits or lack thereof; real estate description, use, future use, zoning, repairs or conditions. Broker is without authority to bind Lender in any manner whatsoever. In addition, Broker is without authority to direct or control Lender in any manner related to the terms, listings, description, offers, counter-offers, purchase, sale, closing, financing or refinancing of the real property in any manner.
[0064] 2. The parties are notified that Broker is preparing documents to submit to Lender, on behalf of the borrower, solely for the purpose of originating mortgage loans in connection with the financing of the real property, and Broker is not authorized in any manner to make any representations concerning the real property, for any reason or purpose whatsoever, on behalf of Lender.
[0065] 3. In addition to the commission received by Broker from the sale/purchase of the real property and in the event a mortgage loan is obtained and facilitated through Broker's efforts, Broker also will receive a commission based upon services performed by Broker on behalf of the borrower in preparing the loan package. Broker shall not receive any commission for mortgage loans insured by FHA.
[0066] The parties hereto acknowledge, by their signature, that Lender, its agents, servants, and employees are not liable for any representations made by any person involving the financing, purchase or sale of real property as set forth in Paragraph 1 and forever waive their rights to bring any form of lawsuit, litigation or arbitration or mediation against Lender, its agents, servants or employees involving such representations, including but not limited to all rights to pursue civil litigation and arbitration.
[0067] 4. If any part of this agreement shall be found by a court of competent jurisdiction to be invalid, illegal, or unenforceable, such provision shall be construed and enforced as if it had been more narrowly drawn so as not to be invalid, illegal or unenforceable, and the validity, legality and enforceability of the remainder provisions of this agreement shall not in anyway be affected or impaired thereby.
[0068] 5. All parties to this agreement have drafted the terms herein and in cases of uncertainty of ambiguity of terms, this agreement is to be interpreted as if drafted by all parties and the meaning is to be ascertained by fair inferences from all other terms in the agreement.
[0069] 6. The parties whose signatures appear below acknowledge that this agreement is a material consideration of the loan transaction submitted to Lender, and this disclosure will be a part of each loan package submitted to Lender.
[0070] As stated above, LPS 10 eliminates the need of a traditional loan agent and helps manage the loan transaction by putting the broker in direct communication with the loan processor. LPS 10 further avoids the duplication. LPS 10 facilitates the transaction with the help of a broker to represent his client in accordance with RESPA (federal) guidelines. The broker processes the paperwork with the help of LPS 10, while the business entity's support staff shops for the best available loan among hundreds of products, and processes it to a successful close. The restructuring of the business responsibility and accountability creates a stronger bond between broker and client, expedites the loan process, and offers the buyer various loan choices. However, before the broker can process the loan through the system, the broker is required to sign up utilizing LPS 10 which also includes executing the Mortgage Broker Agreement and the Borrower Disclosure. LPS 10 further reduces production costs, lender fees to borrower and allow broker to be paid in compliance with state and federal regulations.
[0071]FIGS. 5 and 6, as described below, are exemplary embodiments of data flow diagrams of the LPS depicting the functionality of the system. These flow charts identify the process steps as utilized by the user. The flow charts also depict the overall relationship among various individuals involved in loan processing within and outside the business entity.
[0072]FIG. 6 is an exemplary embodiment of a Broker Registration Process flowchart 178 in accordance with the present invention. The user starts 179 the process of registration by accessing 180 the web site. Once the user enters the web site, the user receives 182 the registration form provided by server 12. The registration form permits the user to register with the business entity utilizing LPS 10. The registration form provides the user with an option to sign up as a �Broker� or as a �Sales Person�. The registration form includes input for a unique identification name or number of the office and a password. The user completes 184 a form by providing general contact information, e.g., full name, mailing address, telephone number, e-mail address and so on, to register the user. Once the user has completed the form, the user transmits the form back to server 12 by selecting a �send� (not shown) button at a pre-determined position on the registration form user interface. Simultaneously, the user executes 188 the Mortgage Broker Agreement and forwards 189 the agreement with a copy of the broker license to the business entity. Once the documents are received 190 and verified 192 by the representative of the business entity, an indication is received authorizing 194 to conduct the business. If the documents or the agreements are not executed according to the business entity's guidelines as set forth on the web site, an indication is sent to correct the problem or re-execute the contract. Before the authorization is issued, the representative of the business entity ensures that the contract signed by the licensed person or the broker is in full compliance with the RESPA. Section 8 of RESPA prohibits so called �kickbacks� and �referral fees� but does permit payment of fees to a licensed person that performs certain actual, necessary and distinct work on the loan transaction. LPS 10 ensures full compliance with state and federal regulations and is designed with checks and balances to ensure that the system's functionality is not circumvented by users or other employees within the business entity. The types of agreements that are executed by the parties are the Mortgage Broker Agreement and the Borrower Disclosure, as discussed above.
[0073] Once the user transmits the information, the broker contact information record is assigned an information ID by server 12 (shown in FIG. 2). The information ID allows server 12 to quickly identify and retrieve the associated broker contact information record. The information ID is a unique number or key that points to the broker information within the user registration form. A date stamp is also attributed to the user information provided through the user registration record. Initially, the date stamp designates a date and time upon the creation of the registration record. The date stamp is updated upon each update of the broker contact information record. The broker receives an ID for the office. Salespersons employed by the broker use the ID received by the broker to identify their association with the broker. In an exemplary embodiment of the invention, an individual ID's for the broker as well as individual sales people are possible for tracking purposes.
[0074]FIG. 7 is an exemplary embodiment of a flowchart 200 depicting Business Process Flow. Through a welcome screen (shown in FIG. 8), a user, who is normally a broker or his designated representative, having an authorized access, accesses the system by logging 202 on to system 10 (shown in FIG. 2) with a user ID and a password. Once the user has been authenticated 206 based on the user ID and the password, the user is provided access 210 to the system.
[0075] Under the web-based system 10, the user accesses 210 home page of the web site through client system 14 (shown in FIG. 2). Server system 12 (shown in FIG. 2) downloads 220 and displays 230 several options. In an exemplary embodiment, after the user has been authenticated the user is provided access to Update Action List 234 on a specific transaction, Review Rates 236, or Prepare an On Line Application 238.
[0076] Once the user selects 240 a specific option out of various hypertext links, the request is transmitted 260 to server system 12. Transmitting 260 the request is accomplished either by click of a mouse or by a voice command. Once server system 12 receives 270 the request, server system 12 accesses 280 the database server 16 and retrieves 290 pertinent information from database 20 (shown in FIG. 2). The requested information is downloaded 292 and provided 300 to client system 14. Server system 12 provides 300 the requested information to the user by either displaying 310 the information on the user's display or by printing 312 it on an attached or a remote printer. The user continues to search database 20 for other information, updates 330 database 20 with new or revised information or exits 350 from system 10.
[0077] In another embodiment of the invention, the retrieved 290 information is downloaded as a �Form� 352 to help the user to input/submit information 354 in a specified format regarding a loan transaction. The inputted information 354 is received 356 by server system 12 for storing 358 in database 20. The user also updates 330 the database by adding, deleting or modifying the information regarding the loan transaction. The user updates databases by uploading 360 the revised information to server system 12. For example, once the user has completed a specific task, the user uploads 360 the new document or updated version of the old document to server system 12. The user further has an option to revise and update 330 the task list depending on the progress he has made on the transaction.
[0078] In yet another embodiment, the home page displays several options identified above and also displays the options for retrieving various management reports. If the user wishes to obtain management reports, the user may obtain the reports by selecting 370 a specific hypertext link. Once the user selects 370 a hypertext link, the user then inputs 372 criteria/parameters of the report and transmits 260 a request to the server system by selecting a submit button (not shown). Transmitting 260 the request directs server system 12 to retrieve 290 the data from centralized database 20 (shown in FIG. 2) and provides 300 the data to the user on the user's interface in a pre-determined format.
[0079] In a further embodiment, client system 14, as well as server system 12, are protected from access by unauthorized individuals. As described, LPS 10 is an interactive searchable database 20 for all loans/transactions related information and provides flexibility to users, business executives as well administrators of LPS 10 to stay current with the related information to-date. The system provides the ability for managers, employees and database administrators to directly update, review and generate reports of current as well as past loan transactions.
[0080]FIGS. 8 through 13 are exemplary embodiments of screen displays depicting the LPS functionality. These various embodiments describe one specific way of practicing invention, displaying data or printing reports. However, one skilled in the art would recognize that there are multiple possible combinations of organizing the data, displaying the data on the screen as well as printing the data in various reporting formats which still express the same essential matter and process steps.
[0081]FIG. 8 is an exemplary embodiment of a home page 320 welcoming the user to the business entity's web site. By selecting a hypertext link �Sign Up� 322, the user accesses the sign up segment of the web site to sign up with the business entity to conduct the business. FIG. 6 above describes the registration process in detail. From home page 320, the user is prompted to enter a user identification (i.e. Login Name) 324 and a password 326 associated with the user identification. Once the user submits the data by pressing an enter button 328, LPS 10 authenticates the user before providing the access. LPS 10 is a secured system. There is often a specific security on a document-by-document basis. The site in the present embodiment can be utilized as an intranet as well as across various networks over the Internet. In other embodiment, the password utilized by the LPS is case sensitive and requires that it be matched completely before the user is provided access to the system.
[0082]FIG. 9 is an exemplary embodiment of a web-based screen 340 providing the information to a user regarding a specific loan transaction. Screen 340 is downloaded by server system 12 (shown in FIG. 2) on to client system 14 (shown in FIG. 2) when the user selects a specific transaction. In this instance, screen 340 displays details regarding a buyer name �Randolph LeRoy� who is purchasing a property located at 4487 Colbath. Screen 340 further provides a quick overview regarding the status of the current loan application and a number of days required to close the escrow.
[0083] Screen 340 is utilized for creating and updating details of a transaction as well as for facilitating navigation within the web site. FIG. 9 identifies action buttons 350, section tabs 370 and sub-sections under each section tabs. Action buttons 350 appear at the top of every screen as the user navigates through a specific transaction document. The system is designed to interact directly through these buttons. The user navigates through these buttons to return to the home page, cancel changes, save changes, and upload or submit documents. Section tabs 370 identify the various tabs utilized by the system to organize the data. For example, in an exemplary embodiment, the section tabs are, an Action List tab 372, a Transaction tab 374, an Underwriting tab 376, a Commission tab 378, and an Contact Information tab 380. Action buttons 350 are: a Main Page button 381, a Today's Rate button 382, a Resources button 384, a Preferences button 386, an Help button 388 and a Log Out button 390. Sub-sections under Action List tab 372 include, for example, a Revise Data sub-section, a Loan Application sub-section, a Credit Report sub-section, and a Loan Approval sub-section. The LPS offers a vast amount of information to be captured for each transaction. The transaction is split into various different logical sections to permit the user to retrieve the information on any specific section by selecting a specific section tab at the top of each transaction. For example, Action List tab 372 provides expanded level of information regarding various task check lists 392 that are being undertaken by the broker, and status of these action items to-date. Task check list 392, is further elaborated in FIGS. 12 and 13 (below). In an exemplary embodiment, task check list 392, which defines broker's responsibility, includes, reviewing buyer's financial goals, reviewing buyer's assets, reviewing available loan programs, reviewing tax returns, income statements, credit review, taking information from borrower and completing borrower worksheet online, selecting an appropriate loan program, collecting documentation, photocopying original documents, sending documentation copy to processing department, opening escrow, completing escrow opening instruction form, ordering a title report, completing order form, faxing to escrow the order form with statement of information and insurance information if applicable, scheduling and meeting the appraiser for an inspection, maintaining contact with borrower, realtors, and lender, to apprise them of the status of the application and to gather additional information, locking the rate with the client, if necessary, preparing rate lock action sheet processing, arranging time for document signing, and attending loan closing. The broker prioritizes items from the check list, completes the items, and checks of the items from the check list 392 as they are completed.
[0084] Underwriting tab 376, for example provides detailed information pertaining to the progress of a transaction from the underwriting department's perspective. Commission tab 378 provides an overview of the commission earned or the commission anticipated on the transaction. Each of these tabs provides a valuable information, including, but not limited to, messages 394 that are currently received from various individuals as they pertain to that transaction, various rate options 396 and other pertinent details 398. In one embodiment, up to the minute rate options are provided to brokers and other authorized users accessing the system. Web-based screen 340 further provides various hypertext links 400 to facilitate access to various sections of the administration center.
[0085]FIG. 10 is an exemplary embodiment of a report 410 downloaded by the LPS system for a specific employee. Report 410 is sorted by an agent 412, a borrower 414, a property address 416, a price 418 of the property, a closing date 420 of the loan transaction, and a status 422 of the loan. Report 410 provides various filter options 424 such as a name of the employee 426, or a status 428 of the loan. LPS 10 provides flexibility to print or display various other reports.
[0086]FIG. 11 is an exemplary embodiment of a mortgage rates report 430 downloaded by the LPS system to provide detail rate information to various brokers that are registered to use the LPS system.
[0087]FIG. 12 is an exemplary embodiment of a Mortgage Loan Procedures & Broker Certification Report 440 downloaded by the LPS system, which must be completed and submitted by the broker before any commission is paid to the broker. Report 440 identifies the responsibilities undertaken by the broker. The responsibilities undertaken by the broker are also identified under task check list 392 (shown in FIG. 9, above). In an exemplary embodiment, the lender maintains the task list. In yet another embodiment, the broker maintains the task list. It is also feasible that a third party may maintain the task list for the broker or the lender for a small fee, or the task list is tracked automatically by the technology as soon as documents status is entered into LPS 10. Report 440 is executed by the broker in compliance with RESPA and faxed to the administrator of the business entity. Report 440 is required to comply with various state and federal regulations. FIG. 13 is a continuation page 450 of the mortgage loan procedures of Broker Certification Report 440.
[0088] While the invention has been described in terms of various specific embodiments, those skilled in the art will recognize that the invention can be practiced with modification within the spirit and scope of the claims.
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Registration for Camp Jitterbug 2015 will open at on January 10th at 10am US Pacific time. More details coming soon, but mark you calendars since the earlier you register the better the pricing!
Camp Jitterbug 2015
May 22-25th
Memorial Day Weekend
Seattle, WA
Jitterbug Weekend is a smaller, regional workshop weekend in February. Please note that this is different than Camp Jitterbug. Camp Jitterbug is our larger national event over Memorial Day weekend.
Back by popular demand, we will be hosting one Jitterbug Weekend a year. It will be held on Presidents Day weekend and will feature one or two couples to allow for a more intimate weekend with one of your favorite instructors. Skye & Frida will be joining us again in 2015 and we are all very excited to welcome them back to Seattle. We are structuring things a little different...we want this weekend to feel more intimate and like one big party so we are adding some really fun things to the line-up. See the workshop and evening schedules below for more details.
Jitterbug Weekend Pass includes:
-4 evenings of parties and dances (live music, dj's, bowling, and more!)
-8 Lindy Hop and Solo workshop classes for Intermediate and Advanced levels (Elective and Instructor classes available separately)
Pricing and Pass Options
$149 Jitterbug Weekend Intermediate Pass - includes 8 workshops (Saturday & Sunday) and all evening events
$149 Jitterbug Weekend Advanced Pass - includes 8 workshops (Sunday & Monday) and all evening events
Prices will go up for the Intermediate and Advanced passes as more people sign up, so register early. This number includes the total signed up for both Int and Adv levels combined. Here is the pricing table:
$149 0-50 people
$169 51-100 people
$189 at the door price
Space and level permitting, we will allow drop ins at $25 per class.
Or, you can select one full day of classes (4 classes @ $20 per class) for $80.
Camp Jitterbug is offering a LIMITED number of dances only passes. It includes ALL dances during the weekend. Jump Session Show tickets are sold separately, but you will receive the discounted rate on tickets and you are welcome to attend the after party dance.
Dancers Only Pass = $119
Are you a fan of Camp Jitterbug & the Jump Session Show? One of the reasons why it is such a great event, is because of the wonderful dancers and talent that attend. Word of mouth is how we remain strong, so if you would like to be part of spreading the word, here are some easy ways to do it!
-Put flyers out in your scene (email us and we will mail you some!)
-Send an announcement to your email list (email us and we will email you a short blurb on CJ/JS)
-Attach our awesome banner in your signature on emails/forums, etc. Email us and we will send you the code
-Tell your friends!
Thanks for your support!
The Camp Jitterbug team
Camp Jitterbug News
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Checkerboard, Ltd Personalized Raleigh Home Framed Graphic Art
Home is where the heart is and in this case it is Raleigh. Celebrate your connection to Raleigh when you moved there, when you moved in together, when you tied the knot or any other special date for you. Eye-catching on the wall and a personal keepsake. This artwork is framed in a classic black frame with white mat.
Checkerboard, Ltd Personalized Raleigh Home Framed Graphic Art
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|Product Type: Graphic art
|Subject: Cities and countries
|Medium: Giclee printed
|Orientation: Vertical
|Size: Small 18"-24"
|Style: Contemporary
|Shape: Rectangle
|Primary Art Material: Paper
|Solid Wood Construction: Yes
|Number of Items Included: 1
|Fade Resistant: Yes
|Lightweight: No
|Wall Hook: Yes
|Glass Component: Yes
|Framed Art: Yes
|Time Period: Contemporary
|Region: North America
|Gender: Unisex/Both
|Compatible Surface Type: Multi-surface
|Room Use: Foyer; Kitchen; Bedroom; Living room; Dining room
|Commercial Use: Yes
|Eco-Friendly: No
|Product Care: Wipe clean with a dry cloth
|Country of Manufacture: United States
|Assembly Required: No
|Installation Required: Yes
|Additional Parts Required: No
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Checkerboard, Ltd Personalized Raleigh Home Framed Graphic Art
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About the ManufacturerCheckerboard Lifestyle products feature elegant, eye catching designs that will transform any space. Checkerboard's inspirational and fashionable designs feature a touch of sophistication and an affinity for typography.


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OFNA 4mm K-Type Differential Bevel Gear Set
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Let me start out by saying that this brush is reasonably good, and I do reach for it nearly every time I apply makeup. However I personally find the bristles to be just a tad too long and that can make it a bit streaky. Also, mine really lacks any kind of density and keeps shedding but I think I may have just gotten a bad brush. The 188 that I bought at the same time has a similar issue with shedding, and they are both definitely real/purchased from the MAC store.
I don't quite think this brush is worth the price. Some MAC brushes are but this one falls short, especially considering the variable quality. You shouldn't have to cross your fingers hoping to get a good brush when you're shelling out $80 (in Australia). I wouldn't buy this brush again, but I will continue to use the one I have.
I had this brush for 5 years now and I brought it at the MAC store. It has held up really well and the bristles are very soft and does not shed. I like that this is made in Japan and the brush has a good weight to it. It cost about $36 but worth it. I use this mainly for blush and highlighting. I used to use this for foundation however I stopped because it takes too long due to the size of the brush but if you take the time and stipple on your foundation, your skin would look very flawless. For highlighting and applying blush, this brush applies the perfect amount and even for the most pigmented blush, my cheeks never look over done. Check out my review and demo on this.
2 out of 3 people found this review helpful. Did you? Yes No
I was not really sure whether to write this review because I know there are many diehard fans out there. It was my birthday and I thought I should splurge on a Mac brush and I chose 188 because I wanted a separate brush for powder highlighter and my goodness, it sheds like crazy. For sure, mine is not a fake since I got it from Mac Pro shop and I was so pissed that I went back to complain to their SA and told them if their is a return or exchange policy I could gladly return it. Their response was you know Mac brushes are all handmade, blah, blah, blah. Now, I am stuck with an expensive unusable brush.
This is a must-have brush, mainly for two purposes: applying liquid foundation to the most tiny areas of your face and applying liquid under-eye concealer. It does an amazing job with both.
Firstly, if you're looking for a brush that will allow you to apply your liquid foundation perfectly and give your face a natural and stunning coverage, you should really check this out. It is great getting your foundation to every part of your face. However, it will take a while since it's a small brush. If you don't have the time and/or are looking for a more chill look, I suggest you try the #187 instead because it's basically a bigger version of the #188.
Secondly (and this is what I use this brush for most of the times), this brush is just perfect with liquid concealer. I use this brush to set the concealer under my eyes, where I have deep dark circles. Honestly, if this is an issue for you, take a look at this brush. You might be surprised.
As for the packaging, I was expecting more from MAC. I mean, MAC is an expensive brand and this is an expensive makeup brush. Therefore, you'd think they would come up with a cute idea for its packaging. Instead, I got this brush wrapped in a simple piece of plastic with a small black tag saying what type of brush it is. Very disappointing since this is not the case of other MAC products that I own, such as concealer, brush cleanser, finishing powder, etc. The brush itself is pretty though: black handle with silver letters and black & white bristles.
As for the price, mine cost me 47 euros (the #187 brush is 52 euros, by the way). It's expensive, but I think it is worth it. I haven't had shedding problems with this brush and it does its job so well.
Overall, I love this brush and I can't imagine not having it now that I do.
It is a good brush. Many people use it for foundation application. I find it too time consuming. For this purpose 187 works just fine for me.
188 I would use for powder or very thin liquid highlighters, or for cream blushes. It's good for something that needs a very light hand.
I swear by this brush. Although it is expensive, it is absolutely brilliant at buffing foundation into the skin. I used to use the real techniques foundation brush, and thought that was amazing too, until I found this brush! This make up brush is fantastic, definitely recommend it!!
1 out of 1 people found this review helpful. Did you? Yes No
For some reason, 188 does better job on being foundation brush than 187, if you only wanna buy one, I would suggest 188, I use LM silk Creme
1 out of 1 people found this review helpful. Did you? Yes No
Eh, the only reason why I have this brush in my collection is because an SA at MAC applied foundation on me with it along time ago and I needed a foundation brush. I have the MAC 187 brush and I prefer that one. This brush takes a lot of effort to blend a whole full face of foundation without getting carpal tunnel.
2 out of 2 people found this review helpful. Did you? Yes No
I wanted to love this brush. .. but I had trouble finding a use for it. I ended up using it for blushes, but I still had to use another brush to blend out the little dots it leaves on application. then, after only a year, the brush fell apart on me unexpectedly. None of my other MAc brushes have yet, so pretty surprised at this one.
1 out of 1 people found this review helpful. Did you? Yes No
I was recommended this brush by an SA at MAC after I bought the pro longwear foundation. He applied my foundation with this brush and it looked amazing so of course I bought it. Love the brush its small enough to get every corner of your face and it blends in foundation like a dream........but I've been reading some reviews and a lot of people are saying the brush doesn't shed at all but mine sheds and that's why I gave it a 4. Its quite pricey too $50 CAN.


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Dish Network Corp. is no longer carrying Fox News Channel or Fox Business Network after the parties couldn't agree on terms of a new distribution pact.
Xiaomi is raising more than $1 billion in its latest round of funding, valuing the fast-growing Chinese smartphone maker at more than $45 billion, a person familiar with the matter said
U.S. regulators on Friday approved AbbVie's new multidrug regimen for hepatitis C, and the company priced it below rival treatments from Gilead Sciences.
The head of Google's autonomous-vehicle project said the company is looking for auto industry partners to bring its vision of a self-driving car to market within the next five years.
Staples said criminals stole personal information from as many as 1.16 million payment cards during the back-to-school shopping season from stores across the country.
Devastating leaks from Sony's computer systems have dramatized the risks of storing corporate email for extended periods. Some people in Silicon Valley wonder if it is time to rethink that practice.
Provision is retroactive to Jan. 1, 2014.
If you use your car for work, you may be eligible for a tax break that will be slightly more generous in the new year. You may also qualify for a deduction if you use your vehicle to help a charity, or for medical or moving purposes.
The endangered Trump Taj Mahal in Atlantic City, N.J., is expected to remain open through the weekend while lawyers work to complete a $20 million lifeline from billionaire Carl Icahn.
Deaths in U.S. car crashes have fallen by about a quarter in the last decade, new federal data show, as safety features in newer models have powered a drop in fatalities even as auto-safety recalls have surged.


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Balkan states back TAP, IAP gas pipeline projects
TIRANA May 23 (Reuters) - Four Balkan states backed the Trans Adriatic Pipeline (TAP) project on Thursday, weeks before the Shah Deniz 2 consortium picks between TAP and its rival Nabucco West project.
The TAP project aims to bring 10 billion cubic meters (bcm) of Azeri natural gas from the Shah Deniz 2 consortium to Europe via Italy, through Albania.
Croatia, Montenegro and Bosnia and Herzegovina joined Albania in backing TAP because they want it to build the Ionian-Adriatic Pipeline from TAP's possible landing point in Albania to supply them with gas since they rely on Russian imports.
Montenegro and Albania are not connected to a gas grid.
TAP competes with the Nabucco West, which would bring the gas to Austria and consists of Austria's OMV, Hungary's MOL, Turkey's Botas and Romania's Transgaz. Germany's RWE sold its stake to OMV last year.
The shareholders of TAP are Swiss energy company Axpo, Norway's Statoil and Germany's E.ON Ruhrgas.
The Shah Deniz 2 consortium, led by BP, Statoil, Azerbaijan's SOCAR and Total, plans to begin exporting gas from early 2019, and has said it would announce the winning pipeline project by the end of June.


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Funding shortfall puts Chernobyl reactor shelter in jeopardy
European agencies warn the concrete structure containing the reactor has become unstable and could collapse.
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As the 25th anniversary of the Chernobyl nuclear reactor accident quickly approaches, European agencies are warning there is a multi-million dollar funding shortfall to build a steel shelter over the stricken reactor, the Independent reports.
The European Bank for Reconstruction and Development and the European Union in partnership with Ukraine are funding the Chernobyl Shelter Fund, which includes the development and construction of a shelter to completely encase the old reactor.
The U.K. newspaper reports the European backers say there is a shortfall of $740 million euros (roughly $995 million Cdn) to build the shelter. The entire project costs an estimated $1.15 billion euros (over $1.5 billion Cdn).
The shelter is expected to be completed by 2015.
Described as the largest movable structure ever built, the shelter will be approximately 108 metres high, 164 metres wide and over 250 metres long.
Once built, cranes and other machinery will work inside to dismantle the old reactor.
Work on the site began in the mid-1990s, with the Ukrainian government closing down the three remaining reactors in 2000, according to government reports.
The partnership responsible for coming up with the funds says it wants others non-EU member countries including Russia to come up with the remaining cash.
Chernobyl's number-four reactor, in what was then the Soviet Union, exploded April 26, 1986, sending a radioactive cloud over Europe.
Known as the world's worst civilian nuclear disaster in history, approximately 30-50 people were killed as a result of the explosion yet the radioactive fallout of the accident claimed thousands more: a combined death toll is estimated at anywhere between 4,000 and 200,000. People died from thyroid cancer and related illnesses contracted from the spewed radiation, reports around the time indicate.
Following the accident, a concrete "sarcophagus" was built over the reactor.
However, officials say the structure has become unstable and could collapse.
"Even after the stabilization activity, there's still potential for the partial or complete collapse of the object shelter," Laurin Dodd, head of the Shelter Implementation Plan at Chernobyl told the Independent. "It's only once we get the new structure in place that we can say it's safe."
Dodd said that the new shelter would completely encase the old reactor, with cranes and other machinery working inside to dismantle the old reactor, the Independent reports. Human interaction will be limited, the paper quotes him as saying.
Ukraine announced in 2010 it will lift restrictions on tourism around Chernobyl, opening the nuclear accident site to visitors.
The 25th anniversary will be marked by Ukraine, Russia and Belarus in April.
With files from the Associated Press
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Introduction For the consumer, natural convection cooling or fan-less cooling is the method of choice. It is silent, it is reliable, it is simple, and it is environmentally sound because no additional energy is used…read more
The Better Box Model
August 1st, 2009
Posted in Applications, Blowers / Fans / Filters, Communications, Consumer, Design, Industries, IT Products, Test & Measurement | Comments Off
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The worst of our fears were confirmed recently, when the Federation of American Scientists (FAS) caught two secretly built Chinese Jin class submarines. The Jin-class submarine is a very dangerous weapon, one of which the US government thought the Chinese managed to build only one. The sharp-eyed American scientists at FAS recognized this communist weaponry, however, from a shot from Google Maps. Let us look upon the evidence: Chilling. These two vessels obviously were constructed for one purpose, and that […]
Archive for Category: "Featured"
Federation of American Scientists Catch Chinese Secretly Building Jin Class Submarines on Google Maps
6 years ago
February 6, 2009 1:03 pm
Crazy Fundies We Are Not, Amanda Palmer and Friends
February 5, 2009 7:57 pm
Parents, Please Stop Dressing Your Daughters Like Sluts
February 5, 2009 5:08 pm
My Wife is Smoking Hot, But Had Sexual Cheating With Another Man – What to do?
February 5, 2009 4:23 pm
Slutty College Girls Use Scripture As Tramp Stamps
February 3, 2009 8:27 am
Miley Cyrus Slant Eye Asian Pose and Friends Help Convert Chinese Boy (picture)
February 3, 2009 7:19 am
Nude Chinese Woman Named Li Qin Poses Naked for Father's Art
February 3, 2009 6:04 am
Sarah Palin Caught Wearing Sexy Hooker Boots (picture and photo evidence)
February 3, 2009 5:43 am
Cute Baby Monkey Eating an Apple Video is Evolutionist Propaganda
February 2, 2009 10:20 am
Punxsutawney Phil, Did the Puxatony Groundhog See His Shadow Day 2009
February 1, 2009 11:36 am
Real Men Eat Meat, Vegans Are Gay and Hate Nature
February 1, 2009 10:42 am
Nancy Reagan Caught Sitting on Mr. T's Lap (picture)
January 29, 2009 8:39 pm
Cute and Immoral Cloned Puppies (picture)
January 29, 2009 8:10 am
Pastor Fred Phelps of Westboro Reveals Truth About Comedic Trickster Jon Stewart and Stephen Colbert
January 26, 2009 1:34 pm


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What does POLICE mean in Colleges & Universities?
This page is about the meanings of the acronym/abbreviation/shorthand POLICE in the Academic & Science field in general and in the Colleges & Universities terminology in particular.
PERSONS OF LOW Integrity Controlling Everyone
Find a translation for POLICE in other languages:
Select another language:
What does POLICE mean?
- po•lice(n.)
- an organized civil force for maintaining order, preventing and detecting crime, and enforcing the laws.
Discuss this POLICE abbreviation with the community:
Use the citation below to add this abbreviation to your bibliography:
"POLICE." Abbreviations.com. STANDS4 LLC, 2014. Web. 21 Dec. 2014. <http://www.abbreviations.com/term/79484>.
POLICE also stands for:
- People Often Lie In Confidence Everywhere
- Police Officers Lobbying in Common Effort
- Polite Obedient Loyal Intelligent Courageous Efficient
- Polite Obidient Loyal Intelligent Courageous And Encourgining
- Protection Of Law In Case of Emergency
... and 4 more »
Nearby & related abbreviations:
Alternative search:
- Search PERSONS OF LOW Integrity Controlling Everyone on Amazon.com
- Search PERSONS OF LOW Integrity Controlling Everyone on Google


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Fabric Task Chair
Weight Ratio of 120kg
5 Star Nylon Base
Dual ? Wheel Silicon Casters
Heavy Duty Mechanism
180g Filled Decorative Cushion Pillow
Two wooden cupboards with glass door
Mali Nursery furniture package ? cot/toddler bed, mattress, change table, chest of drawers/wardrobe combo and bookcase!
2 x oil paintings
Water Fountain w/ Light
Chocolate brown 6 seater dining table and chairs.
Perfect entertainment unit for hi fi equipment with 4 front opening doors
Up for sale:
Brand new still in wrapping,
3 seat Quattro sofa,
& still in great condition 2 seat Quattro, used
Beautiful Candle Holder made of brass alloy
Great for dining table or centre table decorations
pick up only, located...
Delivery available Aus-wide, Please use the Postage calculator to check shipping cost. Pickup is available in Melbourne,...
Jacobsen Egg Chair Reproduction Full Size Classic Red W
The leather on these two recliners are in excellent condition - looks great!
Only issue is only one recliner actually...
Solid Mahogony Dining and Lounge Suite
Black Leather Sofa Bed. Some creasing /marking to cushions. Full mechanical fold-out bed
Wooden mother and baby Giraffe Statue
Gold chandelier with 14 globes and 4 tiers. Beautiful but does not suit our d?cor anymore. Need to sell as have purchase...
TWO used 2-seater couches, good condition.
Willing to negotiate price.
Flat packed for easy self assembly
Hand Crafted Solid A-Grade Teak Timber, unique Dining Table thick hardwood mosaic style inlay Sandstone. 8 seater modern...


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Harry Reid: I'll accept the Zimmerman verdict because I believe in the system, but I sure hope the Justice Department gets involved now
**Written by Doug Powers
Sen. Harry Reid was on Meet the Press this morning, and naturally he was asked about last night's Zimmerman verdict:
"I am a trial lawyer and have [brought] over 100 cases to a jury. I don't always agree with what the jury does but that's the system and I support the system."
After that bit of support for "the system," Reid said "this isn't over with":
He added, "I think the Justice Department is going to take a look at this. This isn't over with and I think that's good. That's our system, it's gotten better, not worse."
The same Justice Department that had a staffer in Florida during the trial urging action against Zimmerman? Sure, that'll be a real fair proceeding.
Visit NBCNews.com for breaking news, world news, and news about the economy
**Written by Doug Powers
Twitter @ThePowersThatBe
Priorities: Obama admin tasks healthcare facilities with focusing more on … climate change
December 16, 2014 10:05 AM by Doug Powers
Now how about a report about how many Dems already knew about the CIA's interrogation techniques?
December 14, 2014 11:46 AM by Doug Powers
Elizabeth Warren was against government shutdowns before she was for them
December 11, 2014 02:51 PM by Doug Powers
Harry Reid, bitter? Nah!
December 10, 2014 09:09 PM by Doug Powers
After Dem election annihilation, CNN panel concerned about fate of GOP
December 7, 2014 07:59 PM by Doug Powers
Categories: 2014 Campaign, Democrats, GOP, Media, Media Bias


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Ed. Dept. Teacher-Prep Regulations Released; Aim to Tie Aid to Program Performance
A first look at the U.S. Department of Education's proposed rules for rating teacher-preparation programs.
A first look at the U.S. Department of Education's proposed rules for rating teacher-preparation programs.
The Education Department's latest push to ensure disadvantaged students get their fair share of high quality teaching ducks the controversial topic of "teacher effectiveness."
A coalition of groups calls for a rethinking of school accountability, releasing a document long on vision but short on details.
The regulations are supposed to put teeth in federal teacher-preparation accountability requirements, but have been pushed back again and again.
The Education Department and National Board outline the next steps of their Teach to Lead campaign.
Two-thirds of grantees have been funded in the past, but the results of their efforts aren't clear.
Loan-forgiveness programs for teachers are underused and contain too much red tape, a report contends.
Teachers seem to have been confused about some of the details of a federally financed bonus-pay program.
The Education Department wants states to re-submit "equity plans" to ensure that effective teachers are matched with disadvantaged and minority students.
Your insider's guide to the Senate's draft bill reworking federal teacher-preparation requirements and grants.


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In 18102, Allentown, Pennsylvania, you can find 1 community college serving 306 students.
Minority enrollment is 85% of the student body (majority Hispanic).
The student:teacher ratio of 14:1 is less than the state average of 27:1..
18102, PA Community Colleges:
- College Location Students
18102-AllentownPennsylvania School of Business
265 Lehigh St.
Allentown, , 18102
(610)841-3333306 students
Recent Articles
Updated November 11, 2014
College can be a difficult transition for many students. To help address students' academic needs, many community colleges have started support services programs. Learn about some of these common programs and how they can help you be successful in school.
Many common myths about community colleges exist, but as they continue to diversify and offer cutting-edge programming, two-year institutions are fighting back against these long-held stereotypes.
The Online Education Initiative will greatly expand course offerings for community college students, while making the transfer process between institutions much more smooth. The Initiative has its critics, however, who decry the loss of local control over education.


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This sunlit work from artist T.S. Harris perfectly captures the charm and glamour of summer days gone by. A fine print of the original on gallery-wrapped canvas, this piece arrives ready to hang in a white floater frame.The California artist T.S. Harris takes old black-and-white snapshots, often found at flea markets and yard sales, and lights them up with color. Her subjects are nostalgic, like her series on film stars of the 1940s and 50s and her scenes of long leisurely summers. Harris makes each painting come to life by cropping into each scene, roughing up the paintwork, and weaving in a bright, light-filled palette.
Vivre T.S. Harris, Joie de SALE $199–299
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? Digital print on twill silk scarf ? Size: 90x90cm ? Rolled Hem ? All the products will come in a luxury box ? An engraved metal plate is sewn to the scarf ? Made in the region of Lyon, France ?Vivre ou mourir?, ?Live or die?, the famous dandy adage makes sense in this vanity which echoes to the gone Age of Enlightenment. Old prints and skulls are dancing a funeral waltz on the inked beige background of this twill silk scarves. Antagoniste scarves are real jewelries made out of twill silk, conceived to catch the eye while still remaining discreet. They contribute to the sophistication of one?s wardrobe. The quality and the unique design are combined to create a universe in which everyone will be able to recognize themselves. Menufactured in the region of Lyon, a city with an ancestral savoir-faire in the silk industry, and using new digital printing techniques, the Antagoniste scarves are a link between different epochs. PRODUCTION AND DELIVERY TIME IN FRANCE: from 2 to 5 days PRODUCTION AND DELIVERY TIME IN THE REST OF THE WORLD: from 1 to 2 weeks
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