System and method for allocating loans
First Claim
1. A method for allocating loans among a plurality of lending entities comprising:
- receiving information associated with a loan application;
determining whether each of a plurality of lending entities is eligible to fund the loan application;
prioritizing at least a portion of eligible lending entities according to at least one predetermined rule; and
selecting an eligible lending entity from the prioritized eligible lending entities.
3 Assignments
0 Petitions
Accused Products
Abstract
A system and method for allocating loans among a plurality of financial or lending entities is disclosed. The system and method match loan applications with lending entities having funds available for lending to that applicant according to one or more rules. In one embodiment, for example, a method comprises receiving information associated with a loan application, determining whether each of a plurality of lending entities is eligible to fund the loan application, prioritizing at least a portion of the eligible lending entities according to at least one predetermined rule, and selecting an eligible lending entity from the prioritized eligible lending entities. In another embodiment, a system comprises at least one data storage device comprising information associated with a plurality of lending entities available for lending and information associated with a loan application. The system further comprises an allocation engine comprising a processor. The processor is adapted to determine whether each of the plurality of lending entities is eligible to fund the loan application, prioritize at least a portion of the eligible lending entities according to at least one predetermined rule and select an eligible lending entity from the prioritized eligible lending entities.
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Citations
57 Claims
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1. A method for allocating loans among a plurality of lending entities comprising:
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receiving information associated with a loan application;
determining whether each of a plurality of lending entities is eligible to fund the loan application;
prioritizing at least a portion of eligible lending entities according to at least one predetermined rule; and
selecting an eligible lending entity from the prioritized eligible lending entities. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16)
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17. A system for allocating loans comprising:
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at least one data storage device comprising;
information associated with a plurality of lending entities available for lending, and information associated with a loan application; and
an allocation engine comprising a processor, the processor adapted to;
determine whether each of the plurality of lending entities is eligible to fund the loan application, prioritize at least a portion of the eligible lending entities according to at least one predetermined rule, and select an eligible lending entity from the prioritized eligible lending entities. - View Dependent Claims (18, 19, 20, 21, 22, 23, 24, 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 allocating automobile loans among a plurality of lending entities comprising:
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receiving information associated with a automobile financing application;
determining whether each of a plurality of lending entities is eligible to fund the automobile financing application;
prioritizing at least a portion of the eligible lending entities according to at least one predetermined rule; and
selecting an eligible lending entity from the prioritized eligible lending entities. - View Dependent Claims (46, 47, 48, 49)
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50. A system for allocating automobile loan applications among a plurality of lending entities comprising:
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at least one data storage device comprising;
information associated with a plurality of lending entities available for providing automobile financing, and information associated with an automobile financing application; and
an allocation engine comprising a processor, the processor adapted to;
determine whether each of the plurality of lending entities is eligible to fund the automobile financing application, prioritize the list of eligible lending entities according to at least one predetermined rule, and select an eligible lending entity from the prioritized eligible lending entities.
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51. A method for allocating loan applications among a plurality of lending entities comprising:
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storing information associated with a plurality of lending entities, wherein the information associated with the plurality of lending entities comprises at least one eligibility criteria;
updating the information associated with the plurality of lending entities;
receiving information associated with a loan application; and
determining a lending entity of the plurality of lending entities to assign the loan application based upon the at least one eligibility criteria; and
assigning the loan application to the lending entity. - View Dependent Claims (52, 53, 54, 55, 56, 57)
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Specification