System and method for transmitting and processing loan data

• US 20040078296A1
• Filed: 08/05/2002
• Published: 04/22/2004
• Est. Priority Date: 09/09/1998
• Status: Abandoned Application

• Current Assignee: Frederick T. Dykes, Richard J. Heiston
• Original Assignee: Frederick T. Dykes, Richard J. Heiston
• Inventors: Heiston, Richard J., Dykes, Frederick T.
• Application Number:
  US10/211,231
• Publication Number:
  US 20040078296A1
• Time in Patent Office: Days
• US Class Current: 705/27
• CPC Class Codes: G06Q 30/0601 Electronic shopping [e-shopping]
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
• CPC Class Codes: G06Q 40/08 Insurance

Abstract

An automated system for collecting and disseminating loan information over a network connection includes a server which receives loan data, including daily loan data, from lenders and stores the loan data in a database. A web server provides to users (e g, brokers, correspondents, or retail loan customers) interactive web content including loan information and a list of loan criteria which would affect the quoted points, rate, cap, or margin associated with a particular loan. The web server receives a user'"'"'s applicable loan criteria selected from the list of possible loan criteria. And uses that applicable loan criteria and the loan data from the lender to create a list of adjustments to the points, rate, cap or margin. A quoted interest rate and the list of applicable adustments are transmitted by the web server to the user

Claims

1. A method for collecting and disseminating information over a network connection, comprising the steps of:

providing a form to users via a network connection, said form including a series of possible adjustment criteria, adjustments to product costs, and means associated with each of said adjustment criteria for allowing said user to indicate that a criterium is applicable;

receiving via said network connection user input indicating that particular criteria among said adjustment criteria are applicable; and

, providing to said user over said network connection a report showing user-selected applicable adjustments to terms of a quoted product.

2. The method in accordance with claim 14, wherein said quoted product is a retail product.

3. The method in accordance with claim 15, wherein said retail product is an automobile.