System and method for creating and tracking agreements for selling loans to a secondary market purchaser

• US 20040215555A1
• Filed: 12/17/2003
• Published: 10/28/2004
• Est. Priority Date: 12/30/2002
• Status: Active Grant

• Current Assignee: Fannie Mae
• Original Assignee: Fannie Mae
• Inventors: Singh, Navdeep, Simonds, John A. Jr., Mathewson, Mark D., Kemper, John L.
• Granted Patent: US 7,461,020 B2
• Time in Patent Office: Days
• US Class Current: 705/38
• CPC Class Codes: G06Q 30/0283 Price estimation or determination
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• 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 40/06 Asset management; Financial planning or analysis
• CPC Class Codes: G06Q 40/10 Tax strategies
• CPC Class Codes: G06Q 50/188 Electronic negotiation

Abstract

A system for creating an agreement and tracking compliance with terms of an agreement between a seller and a purchaser for the sale of loans includes deal management logic and a rules processor. The deal management logic is configured to store and track the terms of the agreement using a set of business rules. The rules processor comprises the set of business rules and is configured to facilitate adding or editing at least one business rule based on at least one term of the agreement. In addition, the rules processor is configured to access the business rules to assess compliance with the terms of the agreement during delivery of the loans. The system may also include pricing logic that is configured to create a set of price data based on the at least one term of the agreement.

Claims

1. A system for creating an agreement between a seller and a purchaser for the sale of loans and tracking compliance with terms of the agreement, the system comprising:

deal management logic configured to generate the agreement based on information regarding the terms of the agreement provided by a user; and

a rules processor, coupled to the deal management logic, the rules processor comprising a set of business rules and configured to facilitate adding or editing at least one business rule based on at least one term of the agreement and configured to access the business rules to assess compliance with the terms of the agreement during delivery of the loans.

2. A system according to claim 1, further comprising pricing logic, coupled to the deal management logic, the pricing logic configured to create a set of price data based on the at least one term of the agreement.

3. A system according to claim 2, wherein the pricing logic is further configured to determine selling prices for the loans.

4. A system according to claim 1, wherein the rules processor further includes editing logic configured to add or edit at least one business rule, and wherein the rules processor exchanges data with the deal management logic regarding at least one term of the loan associated with the at least one business rule.

5. A system according to claim 1, wherein the rules processor is further configured to process at least one loan having a set of loan data by applying the set of business rules to the set of loan data.

6. A system according to claim 1, further comprising a user interface permitting a user to access the rules processor to add or edit at least one business rule based on at least one term of the agreement.

7. A system according to claim 1, further comprising a user interface permitting a user to access the deal management logic to provide the information regarding the terms of the agreement.

8. A system according to claim 5, wherein the set of business rules is applied to the set of loan data during a delivery process.

9. A method for creating and tracking terms of an agreement between a seller and a purchaser for the sale of loans, the method comprising:

storing the terms of the agreement;

generating the agreement based on information regarding the terms of the agreement provided by a user; and

creating at least one business rule based on at least one term of the agreement in response to the receipt of the terms of the agreement, the at least one business rule for assessing the compliance of a loan with the at least one term of the agreement during delivery of the loan.

10. A method according to claim 9, further comprising storing the at least one business rule created with a set of preexisting business rules.

11. A method according to claim 10, further comprising editing at least one of the preexisting business rules based on at least one term of the agreement.

12. A method according to claim 9, further comprising:

creating a set of price data based on at least one term of the agreement; and

storing the set of price data with the set of terms of the agreement.

13. A method according to claim 9, further comprising processing at least one loan having a set of loan data by applying the at least one business rule to the set of loan data.

14. A method according to claim 13, wherein the at least one business rule is applied to the set of loan data during a delivery process.

15. A method according to claim 10, further comprising processing at least one loan having a set of loan data by applying the set of preexisting business rules to the set of loan data.

16. A method according to claim 15, wherein the set of preexisting business rules are applied to the set of loan data during a delivery process.

17. A system for creating and tracking terms of an agreement between a seller and a purchaser for the sale of loans, the system comprising:

means for storing the terms of the agreement;

means for generating the agreement based on information regarding the terms of the agreement provided by a user; and

means for creating at least one business rule based on at least one term of the agreement in response to the receipt of the terms of the agreement, the at least one business rule for assessing the compliance of a loan with the at least one term of the agreement during delivery of the loan.

18. A system according to claim 17, further comprising means for storing the at least one business rule with a set of preexisting business rules.

19. A system according to claim 18, further comprising means for editing at least one of the preexisting business rules based on at least one term of the agreement.

20. A system according to claim 17, further comprising:

means for creating a set of price data based on at least one term of the agreement; and

means for storing the set of price data with the set of terms for the agreement.

21. A system according to claim 17, further comprising means for processing at least one loan having a set of loan data by applying the at least one business rule to the set of loan data.

22. A system according to claim 21, wherein the at least one business rule is applied to the set of loan data during a delivery process.

23. A system according to claim 18, further comprising means for processing at least one loan having a set of loan data by applying the set of preexisting business rules to the set of loan data.

24. A system according to claim 23, wherein the set of preexisting business rules are applied to the set of loan data during a delivery process.

25. A system for creating an agreement between a seller and a purchaser for the sale of loans and tracking compliance with terms of the agreement, the system comprising:

deal management logic configured to store the terms of the agreement and to generate the agreement based on information regarding the terms of the agreement provided by a user; and

pricing logic, coupled to the deal management logic, configured to generate a yield adjustment based on at least one term of the agreement wherein the at least one term relates to an attribute of a loan and the yield adjustment is stored with the agreement.

26. A system according to claim 25, wherein the pricing logic is further configured to determine selling prices for the loan.

27. A method comprising:

creating an agreement for a purchase of loans, including

storing terms of the agreement; and

generating the agreement based on the stored terms; and

processing loan data pertaining to at least one loan to be sold to the purchaser pursuant to the agreement, including

accessing the stored terms of the agreement; and

assessing conformance of the at least one loan to the stored terms of the agreement.

28. A method according to claim 27, wherein generating the agreement further includes

creating at least one business rule relating to at least one term of the agreement;

and

storing the at least one business rule.

29. A method according to claim 28, wherein assessing conformance further includes applying the at least one business rule to loan data for the at least one loan.

30. A system for creating an agreement between a seller and a purchaser for the sale of loans and tracking compliance with terms of the agreement, the system comprising:

a user interface, the user interface being configured to receive information regarding terms of the agreement from a user;

deal management logic coupled to the user interface, the deal management logic being configured to generate the agreement based on the information regarding terms of the agreement received by the user interface; and

a rules processor coupled to the user interface and to the deal management logic, the rules processor comprising a set of business rules and configured to facilitate adding or editing at least one business rule based on the information regarding the terms of the agreement received by the user interface, and the rules processor being configured to access the business rules to assess compliance with the terms of the agreement during delivery of the loans.