Patents by Inventor Richard G. Sopek

Richard G. Sopek has filed for patents to protect the following inventions. This listing includes patent applications that are pending as well as patents that have already been granted by the United States Patent and Trademark Office (USPTO).

  • Vehicle loan generation system: multiple vehicle loan offer generation
    Patent number: 10769724
    Abstract: The system and method allows a vehicle loan organization to generate multiple, customized vehicle loan offers to an applicant for different types of vehicles in an automated fashion. The system and method calculates an acquisition score to better determine the riskiness of offering a vehicle loan to a potential applicant. Additionally, the system and method automates underwriting decisions by automatically approving, denying, or referring vehicle loan applications. For vehicle loan applications that are referred for manual underwriting, the system determines the appropriate credit analyst to use based on the application's complexity, the analyst's expertise, and the analyst's availability. Further, the system uses credit data to calculate a maximum term, amount, and LTV ratio for potential vehicle loans. Also, the system considers the applicant's collateral before approving a vehicle loan. For qualified, approved applicants, the system generates multiple, customized vehicle loan offers for the applicant.
    Type: Grant
    Filed: October 25, 2018
    Date of Patent: September 8, 2020
    Assignee: STATE FARM MUTUAL AUTOMOBILE INSURANCE COMPANY
    Inventors: Adam T. Shapley, Richard G. Sopek, Jennifer A. Keegan, Gregory S. Spencer, Melinda A. Walker
  • Vehicle loan generation system: prequalified vehicle loan offer generation
    Patent number: 10163156
    Abstract: The system and method allows a vehicle loan organization to generate multiple, customized vehicle loan offers to an applicant for different types of vehicles in an automated fashion. The system and method calculates an acquisition score to better determine the riskiness of offering a vehicle loan to a potential applicant. Additionally, the system and method automates underwriting decisions by automatically approving, denying, or referring vehicle loan applications. For vehicle loan applications that are referred for manual underwriting, the system determines the appropriate credit analyst to use based on the application's complexity, the analyst's expertise, and the analyst's availability. Further, the system uses credit data to calculate a maximum term, amount, and LTV ratio for potential vehicle loans. Also, the system considers the applicant's collateral before approving a vehicle loan. For qualified, approved applicants, the system generates multiple, customized vehicle loan offers for the applicant.
    Type: Grant
    Filed: September 12, 2014
    Date of Patent: December 25, 2018
    Assignee: STATE FARM MUTUAL AUTOMOBILE INSURANCE COMPANY
    Inventors: Adam T. Shapley, Richard G. Sopek, Jennifer A. Keegan, Gregory S. Spencer, Melinda A. Walker