Method and computer network for co-ordinating a loan over the internet
2 Assignments
0 Petitions
Accused Products
Abstract
The invention relates to a method and a computer for coordinating an electronic credit application between an Internet user and a plurality of lending institutions via the Internet. This method involves displaying documents in a web site, and receiving credit data forming placed on the web site. After receiving this data a special loan processing computer applies a filter to the data. The filter comprises loan selection criteria provided by lending institutions which allows these institutions to filter out loan applications that they do not want. Next, after the data is filtered, it is transmitted to a plurality of lending institutions. Finally, the computer and the method then controls and coordinates communication between these lending institutions and the Internet user to match borrowers and lenders via the Internet.
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Citations
59 Claims
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1-23. -23. (canceled)
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24. A method for identifying a lender for a credit transaction, comprising:
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receiving selection criteria from a lender;
receiving credit data from one of a credit applicant and a credit agency; and
automatically applying the selection criteria to determine if the credit data matches the selection criteria, whereby a match results in an identification of the credit applicant as being suitable for completing a commercial transaction with the lender. - View Dependent Claims (26, 27, 28, 29, 30, 31, 32)
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25. The method of claim 25, wherein receiving credit data from one of the credit applicant and the credit agency further comprises receiving a credit score about the credit applicant from the credit agency.
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33. A method for coordinating a qualification form between an applicant and a lender via a computer network, comprising:
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receiving lender selection criteria from the lender;
receiving qualification form data sent from one of the applicant and a third party;
employing the lender selection criteria to automatically determine if the applicant is suitable for completing a commercial transaction. - View Dependent Claims (34, 35, 36, 37, 38)
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39. A method for coordinating information between a lender and a consumer, comprising:
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receiving a selection for a desired type of credit from a consumer;
sending a qualification form to the consumer in response to the credit selection by the consumer; and
applying selection criteria of a lender to automatically determine if credit data from the qualification form as completed by a user matches the selection criteria. - View Dependent Claims (40, 41, 42, 43, 44, 45)
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46. A system for coordinating business between a computer user and a lender comprising:
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a processing unit;
a memory storage device; and
a program module, stored in said memory storage device for providing instructions to the processing unit;
the processing unit responsive to said instructions of said program module, operable for receiving selection criteria from the lender;
receiving credit data from one of the computer user and a credit agency; and
applying lender selection criteria to determine if the credit data matches the selection criteria. - View Dependent Claims (47, 48, 49, 50, 51, 56)
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52. A method for coordinating business between a computer user and a lending institution via a computer network, comprising the steps of:
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employing selection criteria to automatically select the lending institution who receives a credit application which results from filtering credit data sent by the computer user; and
posting a positive credit decision from the lending institution on a website in response to a favorable match between the credit data and the selection criteria. - View Dependent Claims (53, 54, 55)
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57. A method for coordinating a transaction between a computer user and a lending institution via a computer network, comprising the steps of:
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sending credit application data over the computer network to the lending institution;
receiving a positive credit decision from the lending institution posted on a website in response to a favorable match between the credit application data and selection criteria managed by the lending institution and stored in a database coupled to the computer network. - View Dependent Claims (58, 59)
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Specification