Title Microservices Platform for Standardized Real Estate Data Exchange
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Solution Overview
Problem
The real-estate title industry lacks common data objects and standards, leading to fragmented implementations, increased time and cost, and risks of errors in data exchange across different systems, necessitating a unified and standardized approach for efficient information transfer.
Innovation Solution
An object-model driven title microservices platform using APIs for interoperability, enabling standardized data objects and processes across industries, with a decision engine for optimized service provider selection and machine learning for improved efficiency and accuracy.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If multiple independent implementations of different standards are used, then each standard can be implemented according to its specific industry needs, but device complexity and integration difficulty increase significantly
Solution Approach 1:
The patent introduces a standardized interface layer (API gateway, message queue, data exchange standard) that acts as an intermediary between different industry standards. This mediator translates and harmonizes data from various standards (MISO for mortgage, TRI for title) into a unified internal representation, allowing systems to maintain standard-specific implementations while achieving seamless integration through the common interface layer.
Solution Approach 2:
The patent creates a universal platform architecture that can handle multiple industry standards through a single integrated system. The core platform provides common functionalities (data exchange, authentication, transaction management) that serve multiple standards, while allowing standard-specific modules to be attached as needed. This multi-functional design reduces the need for separate independent implementations of each standard.
2Adaptability or versatility
If data exchange occurs between systems using different standards, then industry-specific requirements are met, but data accuracy and consistency deteriorate due to transformation errors
Solution Approach 1:
The patent implements a virtual data model that creates accurate copies of data from different standards in a unified internal representation. Instead of directly transforming data between incompatible formats, the system copies data into a standardized internal schema that preserves the semantic meaning and relationships, then generates appropriate output formats as needed. This copying approach maintains data integrity while supporting multiple standards.
Solution Approach 2:
The patent incorporates validation and verification mechanisms that provide feedback loops for data exchange. The system validates data against schemas for each standard, detects transformation errors, and provides error reporting and correction capabilities. This feedback ensures data accuracy is maintained throughout the exchange process between different industry standards.
3Adaptability or versatility
If multiple vendors and businesses implement their own independent solutions, then each entity can optimize for their specific needs, but development time and costs increase due to redundancy
Solution Approach 1:
The patent adopts a modular architecture that segments the system into independent, reusable components (microservices, plugins, standardized modules). Each vendor can implement or select specific modules that meet their needs while sharing common infrastructure modules. This segmentation allows customization without requiring complete independent implementation, reducing redundant development across vendors.
Solution Approach 2:
The patent combines common functionality into a shared platform layer that multiple vendors can utilize. Authentication, data exchange protocols, transaction management, and other common functions are merged into the unified platform, eliminating the need for each vendor to re-implement these features independently. This merging of common functions significantly reduces development time and costs while maintaining the ability to customize standard-specific behaviors.
Data Source
AI summary
The present technology is generally related to a computer-implemented system that provides an online network and host computing device having hardware and software configured to enable the computing device to host an application platform for standardized data objects and processes for transferring property rights and closing real estate transactions.