Method and apparatus for securing financing in a loan transaction
First Claim
1. An apparatus for securing financing and managing repayment of a loan, the apparatus comprising:
- a loan request input module for receiving a request for the loan from a borrower;
a processor connected to the loan request input module for processing the request for the loan;
a credit evaluation module connected to the processor for determining a credit evaluation of the borrower based on the request for the loan;
a loan determination module connected to the processor and receiving at least the credit evaluation, the loan determination module determining at least a first status of the loan based on predetermined criteria wherein terms of the loan are provided to the borrower when the first status has been determined;
a financing solicitation module connected to the processor for soliciting financing for the loan from investors when the first status of the loan has been determined; and
a repayment module connected to the processor for servicing and managing repayment of the loan by the borrower.
1 Assignment
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Accused Products
Abstract
An apparatus and method for securing financing for a loan is provided. The apparatus and method include a loan request input module for receiving a request for the loan from a borrower. A processor is connected to the loan request input module for processing the request for the loan. A credit evaluation module is connected to the processor for determining a credit evaluation of the borrower based on the request for the loan. A loan determination module is connected to the processor and receives the credit evaluation. The loan determination module determines a first status of the loan based on predetermined criteria wherein terms of the loan are provided to the borrower when the first status has been determined. A financing solicitation module is connected to the processor for soliciting financing for the loan from investors when the first status of the loan has been determined.
19 Citations
48 Claims
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1. An apparatus for securing financing and managing repayment of a loan, the apparatus comprising:
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a loan request input module for receiving a request for the loan from a borrower;
a processor connected to the loan request input module for processing the request for the loan;
a credit evaluation module connected to the processor for determining a credit evaluation of the borrower based on the request for the loan;
a loan determination module connected to the processor and receiving at least the credit evaluation, the loan determination module determining at least a first status of the loan based on predetermined criteria wherein terms of the loan are provided to the borrower when the first status has been determined;
a financing solicitation module connected to the processor for soliciting financing for the loan from investors when the first status of the loan has been determined; and
a repayment module connected to the processor for servicing and managing repayment of the loan by the borrower. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19)
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20. An apparatus for securing financing for a loan, the apparatus comprising:
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a loan request input module for receiving a request for the loan from a borrower;
a processor connected to the loan request input module for processing the request for the loan;
a credit evaluation module connected to the processor for determining a credit evaluation of the borrower based on the request for the loan;
a loan determination module connected to the processor and receiving at least the credit evaluation, the loan determination module determining at least a first status of the loan based on predetermined criteria wherein terms of the loan are provided to the borrower when the first status has been determined; and
a financing solicitation module connected to the processor for soliciting financing for the loan from investors when the first status of the loan has been determined. - View Dependent Claims (21, 22, 23)
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24. A method for securing financing and managing repayment of a loan, the method comprising the steps of:
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receiving a request for a loan from a borrower;
obtaining a credit evaluation of the borrower;
assigning a risk level for the loan based on at least the credit evaluation of the borrower;
providing terms of the loan to the borrower when the risk level for the loan meets predetermined criteria;
soliciting financing for the loan based on at least the terms of the loan and the risk level assigned to the loan when the risk level meets at least the predetermined criteria;
executing the loan; and
managing repayment of the loan. - View Dependent Claims (25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44)
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45. A method for securing financing for a loan, the method comprising the steps of:
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receiving a request for a loan from a borrower via a wide area network (WAN);
obtaining a credit evaluation of the borrower from the wide area network (WAN);
assigning a risk level for the loan based on at least the credit evaluation of the borrower;
providing terms of the loan to the borrower when the risk level for the loan meets predetermined criteria via the wide area network (WAN);
soliciting financing for the loan via the wide area network (WAN) based on at least the terms of the loan and the risk level assigned to the loan when the risk level meets at least the predetermined criteria; and
executing the loan via the wide area network (WAN). - View Dependent Claims (46, 47, 48)
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Specification