Integrated electronic credit application, contracting and securitization system and method
First Claim
Patent Images
1. An integrated electronic credit application, contracting and securitization system comprising:
- one or more funding sources;
a credit application information entry and application routing system for providing a credit application containing application information of an applicant and for selectively forwarding said credit application to said one or more funding sources for approval to provide an approved credit application;
an eContracting system for interacting with said credit application information entry and application routing system to use at least some of said application information from said approved credit application to provide an electronic contract between at least said applicant and a selected one of said funding sources; and
an eDocument storage system for storing and retrieving said electronic contract and maintaining the integrity of said at least some of said application information and electronic contract information contained therein thereby providing irrevocable proof of the authenticity of said electronic contract.
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Abstract
The present invention is an integrated electronic credit application, contracting, and securitization system and method. In one embodiment, the present invention comprises the following integrated components: a Credit Application Module, an eContracting Module and an eDocument Storage Module. Together the components enable “paper-lese” commercial transactions.
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Citations
66 Claims
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1. An integrated electronic credit application, contracting and securitization system comprising:
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one or more funding sources;
a credit application information entry and application routing system for providing a credit application containing application information of an applicant and for selectively forwarding said credit application to said one or more funding sources for approval to provide an approved credit application;
an eContracting system for interacting with said credit application information entry and application routing system to use at least some of said application information from said approved credit application to provide an electronic contract between at least said applicant and a selected one of said funding sources; and
an eDocument storage system for storing and retrieving said electronic contract and maintaining the integrity of said at least some of said application information and electronic contract information contained therein thereby providing irrevocable proof of the authenticity of said electronic contract. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 64)
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23. A method in an integrated electronic credit application, contracting and securitization system, comprising the steps of:
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receiving credit application information of an applicant;
selectively forwarding said credit application to one or more funding sources for approval to provide an approved credit application;
processing electronic contract information and at least some of said application information from said approved credit application to provide an electronic contract between at least said applicant and a selected one of said funding sources; and
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storing and retrieving said electronic contract and maintaining the integrity of said at least some of said application information contained in the electronic contract thereby providing irrevocable proof of the authenticity of said electronic contract. - View Dependent Claims (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 program storage device readable by a machine, tangibly embodying a program of instructions executable by the machine to perform method steps for electronic credit application processing, contracting and securitizing, said method steps comprising:
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receiving credit application information of an applicant;
selectively forwarding said credit application to one or more funding sources for approval to provide an approved credit application;
processing electronic contract information and at least some of said application information from said approved credit application to provide an electronic contract between at least said applicant and a selected one of said funding sources; and
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storing and retrieving said electronic contract and maintaining the integrity of said at least some of said application information contained therein thereby providing irrevocable proof of the authenticity of said electronic contract. - View Dependent Claims (46, 47, 48, 49, 50, 51, 52, 53, 54, 55, 56, 57, 58, 59, 60, 61, 62, 63, 65, 66)
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Specification