Method and computer network for co-ordinating financial services/products

• US 20060100944A1
• Filed: 01/28/2005
• Published: 05/11/2006
• Est. Priority Date: 11/10/2004
• Status: Abandoned Application

• Current Assignee: LendingTree LLC (Tree.com Incorporated)
• Original Assignee: LendingTree LLC (Tree.com Incorporated)
• Inventors: Clark, Joel, Dianati, Kamelia, Eckert, Ken, Dahlin, Jason, Reddin, Tom, Lebda, Douglas, Anderson, David
• Application Number:
  US11/046,545
• Publication Number:
  US 20060100944A1
• Time in Patent Office: Days
• US Class Current: 705/35
• 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

Abstract

The invention relates to a method and a computer for coordinating an electronic qualification form between a consumer and a plurality of financial service providers and wholesale investors. After receiving qualification form data, a special processing computer applies a filter to the data. The filter comprises selection criteria provided by financial service providers and wholesale investors which allows these organizations to filter out qualification forms that they do not want. After the data is filtered, the qualification form can be transmitted to those organizations who match the data in the qualification form based on the filtration. According to one exemplary aspect, a financial coordinator who runs a computer matching engine can be a single point of contact for a consumer with respect to several wholesale investors of the financial coordinator who may offer the consumer financial products or services.

Claims

1. A computer-implemented method for coordinating a qualification form between a consumer and financial service providers comprising the steps of:

receiving selection criteria from at least one of the financial service providers and a wholesale investor;

receiving data from a qualification form;

employing the selection criteria to filter the data and to automatically select one of a wholesale investor and a financial service provider; and

transmitting the qualification form data to a group comprising wholesale investors if a certain threshold of matches between the qualification form and number of wholesale investors is met.

2. The method of claim 1, further comprising the step of determining an appropriate transfer method to forward the qualification form data to at least one of the selected financial service provider and wholesale investor.

3. The method of claim 1, further comprising the step of displaying a plurality of positive credit decisions from one of the selected financial service provider and wholesale investor.

5. The method of claim 1, further comprising transmitting the qualification form data to a group comprising wholesale investors and financial service providers.

6. The method of claim 1 wherein each wholesale investor comprises a business organization that sells one of financial services and products not directly to consumers.

15. The method of claim 1, wherein each financial service provider comprises at least one of a lender, a securities broker, an insurance underwriter, and an insurance agency.

16. The method of claim 15, wherein each lender comprises a warehouse lender, a correspondent lender, a retail financial institution, a retail bank, a retail lender, and a credit card company.

4. The method of claim 4, further comprising the step of assigning at least one of the financial service provider and wholesale investor a corresponding filter.

7. A computer-implemented method for coordinating business between a consumer and at least one financial service provider and at least one wholesale investor, comprising the steps of:

receiving selection criteria from at least one of the financial service provider and wholesale investor,

receiving data sent from the consumer,

employing the selection criteria to filter the data;

automatically selecting at least one of the financial service provider and the wholesale investor based on the filtered data; and

transmitting the data to at least one of the financial service provider and wholesale investor, whereby a selected financial service provider and a selected wholesale investor compete with each other for business with the consumer.

8. The method of claim 7, further comprising transmitting one or more leads to the consumer from at least one of a selected financial service provider and wholesale investor.

9. The method of claim 7, further comprising transmitting one or more business offers to the consumer.

10. The method of claim 7, wherein the step of receiving data from the consumer further comprises receiving data from one of a phone, fax, and computer.

11. The method of claim 7, wherein the step of receiving data from the consumer further comprises receiving data from one of a wireless device and a personal hand-held computer.

12. The method of claim 7, wherein each wholesale investor comprises a business organization that sells financial products comprising real estate secured products.

13. The method of claim 7, wherein at least one wholesale investor is affiliated with a financial coordinator that manages a computer matching engine that uses the selection criteria.

14. The method of claim 7, further comprising generating selection criteria for at least one wholesale investor with a financial coordinator, the financial coordinator comprising an authorized agent to transact business and to close offers on behalf of a respective wholesale investor.

17. A computer-implemented method for providing leads to a consumer from at least one of a financial service provider and a wholesale investor comprising the steps of:

receiving data from the consumer;

filtering the data based on electronic tables that are modifiable by each financial service provider and each wholesale investor;

tracking one or more parts of the data that match one or more entries of a respective electronic table; and

in response to a match between the data and one or more entries of a electronic table, sending a lead for a financial service product to the consumer from at least one of a financial service provider and a wholesale investor.

18. The method of claim 17, wherein the lead comprises a least one of a name and a phone number associated with one of the financial service provider and wholesale investor.

19. The method of claim 17, wherein each wholesale investor comprises a business organization that sells financial products comprising real estate secured products.

20. The method of claim 17, wherein the financial product relates to at least one of a business loan, an asset secured by real estate, a commercial mortgage, a first mortgage, a second mortgage, insurance, a car loan, a student loan, a personal loan, a credit card, a bank account, a stock brokerage account, a retirement account, an equity line of credit, a vehicle loan, stock, and bond.