Interactive mortgage and loan information and real-time trading system
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Accused Products
Abstract
The invention provides a method and system for trading loans in real time. Loan applications, such as home mortgage loan applications, are made available electronically to receive bids from a plurality of potential lenders. A transaction server maintains a database of pending loan applications and their statuses, which is accessible over a communications channel, such as the Internet. Each party to a loan can search and modify the database consistent with their role in a transaction. The invention provides smart computerized administration that ensures personal preferences of the participating parties are enforced, errors and duplication is avoided, and information relating to accumulated data is available to the parties consistent with their roles.
177 Citations
54 Claims
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1-38. -38. (canceled)
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39. A transaction server computer configured to process loan applications, said transaction server including:
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a database of pending loan applications, said database including status information regarding said pending loan applications, said database includes a set of bids associated with each said loan application;
a network interface configured to provide communications between the transaction server and at least one client computer associated with a party to one of said pending loan applications;
a lender information generation mechanism configured to generate a loan profile for each of said loan applications;
a set of program modules each configured to cause the transaction server computer to provide one or more services to said at least one client computer; and
a role validation mechanism configured to provide access to one or more of the set of program modules responsive to said party. - View Dependent Claims (40, 41, 42, 43, 44, 45, 46, 47, 48, 49, 50, 51, 52, 53, 54)
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Specification